Rubenstein, whose firm has invested in several Indian companies, was speaking at the 11th India Investment Conference of CFA Society India and CFA Institute on Saturday.
Rubenstein said the lack of competition in the private equity space in India makes the country more attractive, as there can be outsized gains on investments compared with those in the Chinese market, which is relatively more saturated for private equity investors.
Rubenstein also said that the investment world would continue to remain attractive, especially in an environment of very low interest rates, which will force investors chasing higher returns to plow money into assets like public equities and private equity.
However, he raised concerns over the debt binge that several economies have undertaken during the pandemic, including the US, and said “it may not end happily”. “People are not worried about the floor (in investing), but the ceiling,” Rubenstein said.
On the rollout of the Covid-91 vaccine, Rubenstein expressed concerns that the US might not be able to roll out vaccines fast enough to reach herd immunity and said a sizeable part of the population might get vaccines only by the end of the year.