Old Bridge Capital Makes Bold Moves: Exits Infosys, Doubles Down on India's Growth Story

Well, buckle up, because Kenneth Andrade and his team at Old Bridge Capital Management have just pulled off quite the portfolio shuffle! We're talking about their focused equity fund, and let me tell you, it's a move that's certainly raising eyebrows in the market. The big news? They've completely exited their position in tech giant Infosys, while simultaneously dialing up their bets on India's burgeoning capital expenditure (capex) story and the ever-growing healthcare sector.

So, what exactly did they trim? The most eye-catching exit, of course, is Infosys. That's a full departure from the tech behemoth. And it wasn't just Infosys; they also decided to lighten their load a bit on HDFC Bank, reducing their holding there. It really makes you wonder about the thought process behind letting go of such established, blue-chip names, doesn't it?

But it's not all about selling, is it? Old Bridge has been busy buying, and their focus seems laser-sharp. They've really beefed up their positions in companies that are at the heart of India's capital expenditure cycle. Think about names like Dixon Technologies, a major player in electronics manufacturing; Polycab India, a wiring and cable powerhouse; Carborundum Universal, an industrial leader; and APL Apollo Tubes, a structural steel tubes giant. These aren't random picks; they're all directly benefiting from India's push to build, expand, and modernize.

And speaking of growth, healthcare is another area where Old Bridge is clearly seeing immense potential. They've added some fantastic names to the portfolio, including Max Healthcare Institute, a leading private hospital chain, and Rainbow Children's Hospital, which specializes in pediatric and maternity care. It just goes to show, as India grows, so does its demand for quality healthcare services – a truly secular theme, if you ask me.

Oh, and let's not forget CreditAccess Grameen; they've also seen an uptick in allocation. It suggests a diversified approach even within the new themes, perhaps looking at different facets of the consumption and growth story within the broader Indian economy.

These portfolio adjustments aren't just arbitrary; they truly reflect Old Bridge's long-standing investment philosophy. Kenneth Andrade's team is famous for its rigorous, 'bottom-up' approach. They're not just chasing fads; they're digging deep into individual businesses, looking for robust unit economics, companies that are demonstrably gaining market share, and those with a clear, sustainable competitive advantage. In essence, they're spotting what they believe are 'secular growth' themes – trends that are likely to persist and thrive regardless of short-term market noise.

So, what's the takeaway here for us, the observers? It seems Old Bridge Capital is making a confident, calculated bet on specific sectors poised for significant domestic growth in India. By shedding some established names and diving headfirst into capex and healthcare, they're essentially saying, 'We see where the puck is going,' and they're positioning their fund to ride those powerful structural shifts. It's a bold play, and one that many will be watching closely.