CAM, AZB act on Jio Financial Services and BlackRock merger to set up asset management firm

JFS and BlackRock are targeting initial investment of US$150 million each in the joint venture.

Bar & Bench

Published:27th Jul, 2023 at 11:23 AM

Jio Financial Services Limited (JFS) and BlackRock have announced an agreement to form Jio BlackRock, a 50:50 joint venture to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India.

JFS and BlackRock are targeting initial investment of US$150 million each in the joint venture.

The partnership aims to transform India’s asset management industry through a digital-first offering and democratize access to investment solutions for investors in India.

Cyril Amarchand Mangaldas acted for Jio Financial Services Limited and the team was led by Partners L Viswanathan and Anu Tiwari.

L Viswanathan and Anu Tiwari

AZB & Partners acted for BlackRock with a team led by Partners Ashwath Rau, Vipul Jain and Aditya Alok along with Senior Associate Saras Mazumdar and Associate Dishti Kaji.

Ashwath Rau, Vipul Jain and Aditya Alok

The joint venture will launch operations post receipt of regulatory and statutory approvals. The company will have its own management team.

SCROLL FOR NEXT

CAM, AZB act on Jio Financial Services and BlackRock merger to set up asset management firm

JFS and BlackRock are targeting initial investment of US$150 million each in the joint venture.

Also Read

Heated exchange, scuffle between neighbours not enough to attract abetment of suicide offence: Supreme Court

Delhi High Court asks State why salary hike of law researchers not applied retrospectively

Bombay High Court rejects election petition against Shiv Sena Shinde faction MP Naresh Mhaske

Grave concern: Supreme Court flags delay by High Courts in uploading judgments

CBI moves Punjab and Haryana High Court against Justice Nirmal Yadav acquittal in graft case