Jio Financial Services, BlackRock to form asset management JV

On July 26, Jio Financial Services Limited (JFS) and BlackRock made a joint announcement to establish "Jio BlackRock," a 50:50 joint venture. 

Through this partnership, millions of Indian investors will have tech-enabled access to affordable, innovative investment solutions thanks to the strengths and reputable brands of BlackRock and JFS.

BlackRock will enter the Indian market again through the JV after leaving in 2018.

Jio BlackRock combines Jio Financial Services' local market expertise and digital infrastructure with BlackRock's knowledge of investment management, risk management, and technology. The joint venture intends to bring a fresh face with a distinctive scope and scale to the Indian market.

Each partner plans an initial investment of US $150 million. Together, they aim to provide tech-enabled and affordable investment solutions to Indian investors.

Speaking on this transaction, Hitesh Sethia, President, and CEO of JFS said, "This is an exciting partnership between JFS and BlackRock, one of the largest and most respected asset management companies globally. The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive the digital delivery of products.”

Source: Media Reports

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