3i's Queen says India "most attractive market in the world" at AVCJ India Forum 2010

Reviewing the macro and private equity enviroment in the US and Europe, Queen noted that the developed markets were facing continued investment underperformance in an enviroment where "the old certainties of private equity have gone, probably for good," and "the term ‘emerging markets’ is a complete misnomer. What you’re going to see is the no-growth mature markets, and the growth markets." In India, by contrast, he pointed out, "we are seeing more than in the US and Europe, an uptick in investment levels.  We’re going to see a very strong uptick in deals over the next year." Concurrently, "everybody is attracted to India and China," he continued. "India will attract a greater proportion of global PE flows than it’s historically done."

While warning of the increasingly discriminating attitude of LPs towards Indian funds, Queen concluded that, "India is probably the most attractive market in the world for investment over the next 20 years. China is a great market, but it does not tick all the boxes that India does."

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• Michael Queen