DELHI: Aginsky Consulting, a company focused on helping foreign investors to invest in US assets, has recently entered the Indian market.
This boutique asset management company-- with a niche focus on private US assets under $ 20 million-- will primarily look to assist small to mid cap companies in India to invest in US commercial real estate, said Yurop Shrestha, Vice President South Asia, Aginsky Consulting.
Besides providing assistance for EB5 (an immigration investment programme that allows a foreign investor to obtain a green card), Aginsky Consulting will also provide services around cross border mergers and acquisitions into the US.
This Portland, Oregon,US headquartered firm is looking to raise $ 50 million from Indian high net worth investors in next 12-14 months, Shrestha said.
The primary focus would be on selling US commercial real estate even as EB5 is quite popular in India.
The target clients for this firm in India are high networth individuals who have a networth of atleast Rs 100 crore, he said.
"We look ourselves more like a family office. We don't push products to clients. We are very client centric. Our key value proposition is provide end-to-end service. We will structure the investment around what clients need".
Aginsky Consulting, which has a presence in New Delhi, will look to expand to either Mumbai or Ahmedabad in the coming months, he said.
Outbound investment from India had been on the rise in the recent years with as much as $ 3 billion invested abroad last financial year.
Of this $ 3 billion, as much as 60 percent came from Indians not resident in the US.
UK remains a favourite destination for Indians looking to invest abroad. US has not been marketed at all, Shrestha noted.
He also said that the Reserve Bank of India (RBI) move to tighten capital controls in mid-2013 had adversely impacted outbound investments from India.
"We expect business to pick up once the policy reversal happens. RBI had said that the capital controls were only temporary. We were expecting it to be done before 2014. But now it seems unlikely before general elections"