Veteran investor Rajiv Jain's GQG Partners LLC has raised its stake in billionaire Gautam Adani's conglomerate by about 10% and will take part in the conglomerate's future fundraising, doubling down on what he calls "the best infrastructure assets available in India." "Within five years, we would like to be one of the largest investors in Adani Group depending on the valuation, after the family," Mr Jain, GQG's chief investment officer, said in an interview. Mr Jain said the value of GQG's Adani holdings was close to $3.5 billion.
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