Jio Financial Services and BlackRock partners to enter asset management entry with joint venture “Jio BlackRock” – Times of India
Jio BlackRock is a partnership between JFS and BlackRock that combines the expertise of both companies. BlackRock brings investment management, risk management, product excellence, and access to technology, operations, scale, and intellectual capital around markets. At the same time, JFS contributes local market knowledge, digital infrastructure capabilities, and robust execution capabilities. The partnership aims to introduce a new player to the Indian market with a unique scope, scale, and resource combination. JFS and BlackRock plan to invest an initial US$150 million each in the joint venture.
The joint venture will commence operations once the regulatory and statutory approvals are received. The company will have a dedicated management team.
According to Rachel Lord, the Chair and Head of APAC at BlackRock, India presents a significant opportunity due to its increasing wealth, favorable demographics, and digital transformation across various industries. This combination is reshaping the market in remarkable ways. BlackRock is thrilled to collaborate with JFS to revolutionize India’s asset management industry and transform financial futures. The partnership will result in Jio BlackRock, which will focus on combining its expertise to provide innovative solutions to the Indian market.
Mr Hitesh Sethia, President and CEO of JFS, expressed his enthusiasm for the partnership between JFS and BlackRock, a highly reputable global asset management company. The collaboration will combine BlackRock’s investment and risk management expertise with JFS’s technology and market knowledge to enhance digital product delivery. Jio BlackRock aims to become a customer-centric enterprise that prioritizes digital solutions, aiming to provide financial investment opportunities to all Indians and promote financial stability.
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