Asset management giant BlackRock has announced its expanded presence in India with the establishment of a local joint venture.
BlackRock has formed an asset management joint venture in India with Jio Financial Services (JFS), according to a statement. Each of the two firms will own 50 percent of the venture and also target an initial investment of $150 million.
«India represents an enormously important opportunity. The convergence of rising affluence, favorable demographics, and digital transformation across industries is reshaping the market in incredible ways,» said Rachel Lord, chair and head of APAC at BlackRock, which has been in India for the past 17 years with 2,400 employees across the nation.
JFS is a a tech-driven financial firm that is part of renowned billionaire Mukesh Ambani’s Reliance Group.
