GQG Partners
| Company type | Public |
|---|---|
| Template:ASX S&P/ASX 200 component S&P/ASX 300 component | |
| Industry | Investment management |
| Founded | March 2016 |
| Founders |
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| Headquarters | , |
Key people |
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| Revenue |  Template:US$ (FY 2022) |
| Template:US$ (FY 2022) | |
 Template:US$ (FY 2022) | |
| AUM | Template:US$ (June 2023) |
| Total assets | Template:US$ (FY 2022) |
| Total equity | Template:US$ (FY 2022) |
Number of employees | 172 (June 2023) |
| Website | www |
GQG Partners (Global Quality Growth) is a Fort Lauderdale, Florida-based investment management company specializing in actively managed equity portfolios. The firm is publicly traded on the Australian Securities Exchange and is a constituent of the S&P/ASX 200 index.
To support its international business, GQG operates additional offices in both London and Sydney.
Background
Established in March 2016 by Rajiv Jain and Tim Carver, GQG emerged following Jain’s departure from his position as co-CEO and CIO at Vontobel Asset Management. While Jain concentrated on shaping investment strategies, Carver brought his expertise in growing emerging investment enterprises to oversee operational management. The firm assembled a fresh investment team independently from Vontobel.
In December 2016, GQG collaborated with Goldman Sachs to introduce the Goldman Sachs GQG Partners International Opportunities Fund, which by March 2023 had grown to US$26 billion, marking it as the firm's largest fund. Since inception, this fund has achieved an annualized return of 10.8%, with principal investments including British American Tobacco and Philip Morris International.
By the close of 2017, assets under management at GQG had reached US$10 billion, primarily fueled by clients transitioning from Vontobel.
On October 28, 2021, GQG completed its initial public offering on the ASX, raising US$893 million—making it the largest Australian IPO that year—although subsequent trading saw its share price fall below the initial offer level.
As of August 2023, founder Rajiv Jain retains nearly a 70% stake in the company, while Tim Carver holds close to 5.6%.
In September 2024, the U.S. Securities and Exchange Commission charged GQG Partners with breaching whistleblower protection laws due to restrictive non-disclosure agreements that impeded employees’ ability to report potential compliance issues.
Investments
GQG focuses on growth equities spanning established sectors such as oil, tobacco, and banking, frequently adopting a contrarian investing strategy.
During the market downturn of 2022, the firm attracted inflows totaling US$8 billion, with three out of four flagship funds outperforming their benchmarks. However, its emerging markets fund declined by 21%, largely due to exposure to Russia amid the Russian invasion of Ukraine, leading Rajiv Jain to issue an apology during an investor conference call.
In early 2023, GQG’s funds lagged behind benchmarks after divesting Chinese internet stocks the previous year, missing out on gains following China’s reopening. For instance, its international fund posted a return of 3.4% compared to a benchmark return of 7.8%. By August, the firm began increasing holdings in Chinese gaming and food delivery companies within its emerging markets portfolio.
In March 2023, GQG invested US$1.9 billion into four publicly traded companies within the Adani Group, following significant share price drops caused by a critical Hindenburg Research report. At that time, Indian firms accounted for roughly 34% of GQG’s emerging markets fund. By June, investments included US$1 billion in both Adani Enterprises and Adani Green Energy, while in August it acquired an 8.1% stake in Adani Power valued at US$1.1 billion through block trades. On November 20, 2024, allegations surfaced when Gautam Adani and other executives were indicted by the U.S. Attorney's Office over purported bribery schemes, resulting in a share price decline for GQG Partners of up to 25%.