GQG Partners
Professional services
UnclaimedGQG Partners is an active investment-management firm specializing in globally diversified equity portfolios and growth-oriented stock selection.
Last updated August 26, 2026
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Overview
GQG Partners, short for Global Quality Growth, is an investment-management company headquartered in Fort Lauderdale, Florida. The firm manages actively selected equity portfolios rather than offering a passive index-tracking approach. Its investment style combines a focus on companies capable of producing durable growth with a willingness to invest in established industries such as energy, tobacco, banking, and other traditional sectors. This approach can lead the firm to make contrarian or unconventional allocations when its investment team believes that market prices do not reflect a company's long-term prospects. The company was co-founded in March 2016 by Rajiv Jain and Tim Carver. Jain had previously served as co-chief executive officer and chief investment officer of Vontobel Asset Management. After leaving Vontobel, he recruited Carver to lead the business side of the new firm, allowing Jain to concentrate on portfolio construction and investment research. GQG initially had to build a new investment team rather than transferring Vontobel's investment personnel with Jain. The separation nevertheless did not prevent rapid commercial expansion: by the end of 2017, the firm reportedly had approximately US$10 billion in assets under management, an unusually fast rise for a newly established money manager. Former Vontobel clients accounted for a substantial share of its early client base. In December 2016, GQG entered into a partnership with Goldman Sachs to launch the Goldman Sachs GQG Partners International Opportunities Fund. The fund invests in equities across international markets and became the firm's largest fund, with approximately US$26 billion in assets as of March 2023 according to the cited reference material. GQG's broader offering includes international, global, United States, and emerging-markets equity strategies distributed through institutional, intermediary, and other investment channels. GQG became a publicly traded company on the Australian Securities Exchange on 28 October 2021. Its initial public offering raised approximately US$893 million and was described in the reference material as Australia's largest IPO of 2021. The listing gave investors public-market exposure to the economics of an active asset manager, although the company's share price subsequently traded below its offer price for a period. As of August 2023, Rajiv Jain held just under 70% of the company and Tim Carver held approximately 5.6%, illustrating the founders' significant ownership positions. The firm has offices in Fort Lauderdale, London, and Sydney and invests across developed and emerging markets. Its performance has varied by strategy and market environment. During the 2022 market decline, GQG experienced substantial net inflows and three of its four flagship funds outperformed their benchmarks, while its emerging-markets strategy suffered a significant loss partly because of exposure to Russian investments affected by Russia's invasion of Ukraine. In early 2023, some strategies lagged benchmarks after the firm had reduced exposure to Chinese internet companies before China's reopening-driven market recovery; later that year, it began adding positions in Chinese gaming and food-delivery companies to its emerging-markets portfolio. GQG also attracted attention for its large investments in Adani Group companies during 2023, when those stocks had fallen sharply following criticism from Hindenburg Research. The position later became a source of market and reputational risk after U.S. prosecutors indicted Gautam Adani and other executives in November 2024 over alleged bribery and securities-related conduct. In September 2024, the U.S. Securities and Exchange Commission charged GQG with impairing whistleblower protections through restrictive nondisclosure agreements. These events placed the firm's governance, compliance controls, and portfolio-risk decisions under public scrutiny.
History
GQG Partners was established in March 2016 by Rajiv Jain and Tim Carver. Jain brought experience from Vontobel Asset Management, where he had been co-chief executive officer and chief investment officer. He recruited Carver to run the company's business operations, creating a division of responsibilities in which Jain could lead investment activity while Carver focused on corporate development and administration. GQG built a new investment team rather than bringing over Vontobel's existing investment staff. The firm quickly developed a reputation for rapid asset gathering. In December 2016, it partnered with Goldman Sachs on the Goldman Sachs GQG Partners International Opportunities Fund, a globally invested equity product. By the end of 2017, GQG reportedly managed approximately US$10 billion. The speed of this growth was notable for a newly created asset manager, and former Vontobel clients represented a meaningful portion of the early client base. GQG's investment philosophy centers on actively managed equity portfolios and long-term company analysis. Although its name refers to global quality growth, its portfolios have not been limited to technology or other high-growth sectors. The firm has invested in traditional industries including oil, tobacco, and banking, and its managers have sometimes taken positions that differed substantially from prevailing market sentiment. On 28 October 2021, GQG completed an IPO on the Australian Securities Exchange. The offering raised approximately US$893 million and was identified in the cited reference as Australia's largest IPO of that year. The public listing made the firm itself an exchange-traded company, while its investment products continued to serve institutional and other investors. The company's shares subsequently traded below their offer price for a period. Market conditions tested the firm's strategies in the following years. In 2022, GQG attracted approximately US$8 billion in inflows, and three of its four flagship funds exceeded their benchmark returns. Its emerging-markets fund, however, declined by 21%, with Russian investments affected by Russia's invasion of Ukraine. Jain apologized to investors during a conference call concerning the loss. In early 2023, the international fund returned 3.4% compared with a 7.8% benchmark gain, in part because the firm had sold Chinese internet holdings before a recovery associated with China's reopening. GQG subsequently increased selected investments in Chinese gaming and food-delivery companies. The firm's most prominent portfolio decision in 2023 was its investment in Adani Group companies. It committed approximately US$1.9 billion across four listed businesses in March, when Adani shares were depressed after a Hindenburg Research report. It made additional purchases in June and August, including stakes in Adani Enterprises, Adani Green Energy, and Adani Power. The strategy later exposed GQG to heightened reputational and market risk after U.S. prosecutors indicted Gautam Adani and other executives in November 2024 over alleged bribery and related securities conduct. GQG's shares reportedly fell as much as 25% after the indictment news. In September 2024, the SEC charged GQG over alleged interference with whistleblower protections through restrictive employee nondisclosure agreements. The matter added a regulatory and governance dimension to the company's public profile. GQG operates from Fort Lauderdale and maintains offices in London and Sydney, serving investors through a range of globally oriented active-equity strategies.
- 2024
SEC whistleblower-protection charges
[1]The SEC charged GQG over alleged restrictions on employees' ability to report potential legal violations.
- 2023
Large investment in Adani Group
[1]GQG committed approximately US$1.9 billion to four listed Adani Group companies and later increased selected holdings.
- 2021
Australian Securities Exchange listing
[1]GQG completed its IPO on 28 October, raising approximately US$893 million.
- 2017
Assets reach approximately US$10 billion
[1]The firm reported rapid early growth, reaching approximately US$10 billion in assets under management by year-end.
- 2016
GQG Partners is founded
[1]Rajiv Jain and Tim Carver co-founded GQG Partners in March, establishing an active equity investment manager headquartered in Florida.
- 2016
Goldman Sachs fund partnership begins
[1]GQG and Goldman Sachs launched the Goldman Sachs GQG Partners International Opportunities Fund.
Products and positioning
An active, research-driven equity manager emphasizing durable long-term growth, concentrated portfolio judgment, and willingness to invest across both fashionable and traditional industries. GQG's approach may be contrarian when its managers identify quality or growth potential in sectors that broader markets have discounted.
International equity fund · 2016
Goldman Sachs GQG Partners International Opportunities Fund
A globally invested equity fund launched through GQG's partnership with Goldman Sachs in December 2016. It became GQG's largest fund, with approximately US$26 billion in assets as of March 2023 according to the cited reference. The portfolio has included major holdings in companies such as British American Tobacco and Philip Morris International.
Emerging-markets equity
GQG Partners Emerging Markets Equity Strategy
An actively managed strategy investing in companies across emerging economies. The portfolio has included substantial Indian exposure and, at different points, positions in Russian and Chinese companies. Its performance was particularly affected in 2022 by Russian investments following the invasion of Ukraine, while the strategy later added Chinese gaming and food-delivery companies.
Global and domestic equity
GQG Partners Global and United States Equity Strategies
A group of actively managed portfolios applying GQG's quality-and-growth investment approach across global or United States-listed companies. The strategies may hold businesses in traditional sectors, including energy, tobacco, and banking, rather than concentrating exclusively on technology or other high-growth industries.
Controversies
2024
SEC whistleblower-protection case
The SEC charged GQG Partners in September 2024, alleging that restrictive nondisclosure agreements hindered employees from reporting possible violations to regulators.
2024
Market and reputational exposure following Adani indictment
GQG's large Adani holdings came under renewed scrutiny after U.S. prosecutors indicted Gautam Adani and other executives in November 2024 over alleged bribery and related conduct. GQG's shares reportedly fell sharply afterward.
Brand decisions
2023
Adani Group investmentStrategyBackground
Adani Group share prices had declined substantially after the Hindenburg Research report, creating an opportunity that aligned with GQG's willingness to make contrarian investments.
Action taken
GQG invested approximately US$1.9 billion across four listed Adani companies and later made additional purchases in Adani Enterprises, Adani Green Energy, and Adani Power.
Aftermath
The position generated significant market attention and later exposed GQG to reputational and share-price risk after the 2024 indictment of Adani executives.
Initial Adani investment. Approximately US$1.9 billion (March 2023)
2021
Australian public listingOtherBackground
GQG sought public-market access and capital after several years of rapid asset growth.
Action taken
The company completed an IPO on the Australian Securities Exchange.
Aftermath
The offering raised approximately US$893 million; the shares later traded below their offer price for a period.
IPO proceeds. US$893 million raised (28 October 2021)
2016
Launch of international opportunities fundProduct launchBackground
GQG was a newly established investment manager seeking distribution and scale for a globally oriented equity product.
Action taken
The firm partnered with Goldman Sachs to launch the Goldman Sachs GQG Partners International Opportunities Fund.
Aftermath
The fund became GQG's largest reported fund and a central part of its international offering.
Recent events
Reported
GQG Partners appoints business development director in Australia[2]
GQG Partners appointed Ashneel Naidu to the newly created role of director of business development, based in Sydney.
Reported
GQG Partners reduces fees on two equity funds[3]
GQG Partners reduced the management fees on its Global Equity fund from 0.90% to 0.75% and its Emerging Markets Equity fund from 1.10% to 0.96%. The firm said the reductions reflected lower overheads as the business and funds grew.
Sources3 sources
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