Investing in India? See Blackstone losses first

I read this intresting article on Reuters website:

http://uk.reuters.com/article/privateEquity/idUKSP32390820090120?pageNumber=4&virtualBrandChannel=0&sp=true

where they are speaking of losses made by Blackstone in Indian investments. The article posts a gloomy picture of the PE in India. But what i would like the author is compare it with their perfromance for the same period in the US/Europe. It will be a surprise for them. The global market has taken a plunge which has not spared the likes of Lehman, Citibank, GM, etc.

Yes the stocks listed in the article have fallen down, some by as much as 70%. So what, its still better than the Blackstone share price which had an IPO at $35 in now trading at $5 thats a 85% write-down!!