JFS forms another JV with Blackrock to set up wealth management, broking biz
JFS and BlackRock India had last year formed Jio BlackRock JV to make a foray into the asset management industry
JFS and BlackRock India had last year formed Jio BlackRock JV to make a foray into the asset management industry
It’s around a 95% drop in the valuation of a company valued at $22 billion in early 2022
The Jio BlackRock JV brings a new player to the Indian asset management market, with JFS and BlackRock targeting an initial investment of $150 million each
Blackrock, which manages over $10 trillion in assets, had first entered Byju's roster of marquee investors at a $12-billion valuation in 2020.
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With huge scope for growth in mutual fund market in India, analysts and experts say BlackRock is likely to re-enter the country in a big way.