Macquarie’s Investment Strategy in India
Date: 3 August 2026
Macquarie Asset Management (MAM) has invested over $4 billion in India throughout its two-decade presence. The firm focuses on roads and renewable energy but is also exploring opportunities in digital infrastructure (data centers, fiber, telecom towers) and social infrastructure (healthcare, education, logistics, cold storage).
Insights from Leadership
Verena Lim, Asia CEO and co-head of Asia-Pacific MAM, and Prateek Jhawar, head of Real Assets in India, shared insights with The Economic Times regarding their strategies and perspectives on investment opportunities.
Investment Pace in India
Lim emphasized that India remains a core market for Macquarie. Over the years, their investment strategy evolved to include a regional Asia-Pacific focus, but India continues to be a significant allocation. From 2018 to 2022, they prioritized scaling existing assets over new investments. Recent successes, like the sale of Safeway Concessions, indicate a readiness to reinvest.
Regional Fund Dynamics
Lim clarified that the switch to a regional fund did not reduce investment in India. The latest Asia-Pacific Infrastructure Fund at $4 billion allows greater flexibility in capital allocation, enhancing opportunities in India rather than diminishing them.
Sectors of Interest
Jhawar noted that while they’ve had success in roads and varying results in renewables, their focus remains on investment discipline. They see potential across various sectors, including:
- Roads
- Renewable Energy
- Digital Infrastructure
- Social Infrastructure
Investment Appeal and New Sectors
Lim believes India’s demographic strengths, policy stability, and evolving investment landscape make it highly attractive. Macquarie has seen shifts from government ownership to private and institutional investment.
In addition to traditional sectors, Jhawar indicated that digital infrastructure is gaining focus, with healthcare and logistics also presenting investment opportunities.
Capital Allocation Perspectives
Lim stated that there are no specific capital allocation targets for emerging sectors; the focus is on assessing opportunities that match their risk-return criteria.
Conclusion
Macquarie’s longstanding commitment to India, coupled with a proactive approach to evolving sectors, underscores its optimistic outlook for the country’s infrastructure landscape. The firm anticipates continued investment to capitalize on promising growth areas in the coming years.
