BlackRock and Reliance’s finance unit to form asset management venture

The world’s largest asset manager is re-entering India — and it’s doing so in a partnership with India’s richest man. Jio Financial Services and BlackRock said Wednesday they have agreed to form a joint venture, called Jio BlackRock, as the Indian conglomerate Reliance’s finance unit begins the lucrative asset management play in the South Asian market.
The firms are targeting an initial investment of $150 million each into the new 50:50 venture, which will seek to offer tech-enabled access to “affordable, innovative” investment solutions for millions o

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