Anil Agarwal eyeing Indian disinvestment program with a $10 bn war chest

Commodities tycoon Anil Agarwal is planning to invest $10 billion through a new partnership targeting government privatisations in India.

The billionaire is teaming up with London-based Centricus Asset Management Ltd. to seek investments in Indian companies offering substantial growth opportunities, according to a statement Thursday. They will look to turn around companies being sold off as part of the country’s Rs 2.1 trillion ($29 billion) divestment program.

Agarwal made a fortune buying state companies and fixing them up, building a metals and mining powerhouse under the umbrella of Vedanta Resources Ltd. He’s now seeking to repeat that success, betting he