Blackrock And Jio Financial Services Agree To Form 50:50 Joint Venture To Enter India's Asset Management Industry; Targeting Initial Investment Of $150M Each
Portfolio Pulse from Benzinga Newsdesk
BlackRock and Jio Financial Services have agreed to form a 50:50 joint venture to enter India's asset management industry, with an initial investment of $150M each. The partnership aims to transform the industry through a digital-first offering and democratise access to investment solutions for Indian investors.
July 26, 2023 | 3:12 pm
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BlackRock's joint venture with Jio Financial Services to enter India's asset management industry could potentially expand its market and increase its revenues.
BlackRock's joint venture with Jio Financial Services represents a strategic move to enter India's asset management industry. This could potentially expand BlackRock's market and increase its revenues, which would likely have a positive impact on its stock price in the short term.
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