Renowned investor Rajiv Jain's GQG Partners LLC has raised its stake in Gautam Adani's conglomerate by approximately 10% and plans to participate in the group's future fundraising activities. Jain considers Adani Group to possess the "best infrastructure assets available in India" and aims to become one of the largest investors in the conglomerate, alongside the family, within the next five years.The value of GQG's Adani holdings currently stands at around $3.5 billion, although Jain did not specify the exact composition of the investment or the companies involved. GQG initially acquired nearly $2 billion worth of shares in four of Adani's firms from a family trust in March, which helped restore confidence in the conglomerate after allegations of stock-price manipulation and corporate fraud were raised by New York short-seller Hindenburg Research. At one point, Adani Group suffered a significant decline in market value, surpassing $150 billion.Jain, an Indian-origin investor based in Fort Lauderdale, Florida, remains unfazed by the allegations made by the short seller, considering them to be commonplace in India's business landscape. He believes that no perfect company exists, drawing on his extensive 30-year investment career. Furthermore, Jain justifies his contrarian investment by highlighting the value of Adani Group's businesses, particularly its coal mining and airport assets, which align with India's development goals. Prime Minister Narendra Modi's emphasis on domestic infrastructure development and attracting manufacturing investments further supports Jain's investment thesis.Recent market trends have favored Jain, as Adani Group stocks experienced a surge following an interim expert panel report submitted to India's Supreme Court. The report found no conclusive evidence of stock-price manipulation by the conglomerate, adding to the positive sentiment surrounding the investment.