Rajiv Jain, co-founder and Chairman of GQG Partners, is one of the new entrants in Forbes’ rich list with a net worth of $2 billion. GQG Partners recently made headlines for buying shares worth Rs 15,446 crore in Adani Group firms like Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Transmission Limited and Adani Enterprises Ltd through block deals in March.

The billionaire chairman of the Fort Lauderdale-based asset management firm owns 69 per cent of GQG Partners – worth roughly $2 billion. The company was co-founded by Jain and the firm’s CEO Tim Carver in 2016. According to a Forbes report from last month, the firm has $92 billion in assets under management. 

After its investment in Adani companies, Jain said in a call to reporters in Adelaide that they are likely to increase their investment in the conglomerate. "Chances are we'll probably buy more because we typically initiate a position and then depending on how things go and how the earnings come through we tend to get it to full size because we're not at full size at this point," said Jain. 

WHO IS RAJIV JAIN?

Born in India, Jain pursued accounting at Panjab University in Chandigarh, and a master’s in finance at the University of Ajmer. He left for Miami to pursue an MBA in finance and international business in the early 90s. 

He worked as an international equity analyst at Swiss Bank Corporation before joining Swiss asset manager Vontobel. He served as the Portfolio Manager in Vontobel from October 1994 to May 2016. He was given additional responsibility of Chief Investment Officer in the company in January 2002. 

According to his LinkedIn profile, Jain was the “sole Portfolio Manager of International Equities strategy (since 2002) and Emerging Markets Equities strategy (since 1997) and lead Portfolio Manager for Global Equities strategy (since 2002)”. He has been credited with building Vontobel’s business from less than $400 million under management to just under $50 billion in 2016.

In 2016, Jain co-founded GQG, with a focus on global, international, US and emerging market equities. GQG manages billions of dollars for more than 1,000 institutional investors access the globe. 

GQG PARTNERS INVESTMENTS

Apart from the Adani Group, GQG has investments in several Indian companies – 34 per cent of its $9.9 billion emerging markets equity fund is invested in India, according to a Forbes report. 

The company has investments in Mukesh Ambani’s Reliance Industries, State Bank of India, Housing Development Finance Corp, ICICI Bank and ITC. Its funds also hold positions in French energy major TotalEnergies, that acquired 25 per cent minority interest in Adani New Industries Ltd in 2022. 

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