Jio Financial Services and BlackRock have agreed to form a joint venture called Jio BlackRock, with equal ownership. The partnership aims to provide affordable and innovative investment solutions to millions of investors in India through the combination of BlackRock’s expertise and JFS’s local market knowledge and digital infrastructure capabilities.
Jio BlackRock will benefit from BlackRock’s investment management, risk management, product excellence, and access to technology, operations, scale, and intellectual capital around markets. JFS, on the other hand, brings its digital infrastructure capabilities, robust execution capabilities, and understanding of the Indian market.
The joint venture plans to invest an initial $150 million from each company and will begin operations once regulatory and statutory approvals are received.
Rachel Lord, the Chair and Head of APAC at BlackRock, believes that India’s increasing wealth, favorable demographics, and digital transformation across industries make it a significant opportunity. BlackRock is excited to collaborate with JFS and revolutionize India’s asset management industry through Jio BlackRock.
Hitesh Sethia, President and CEO of JFS, expressed his enthusiasm for the partnership with BlackRock. He believes that combining BlackRock’s investment and risk management expertise with JFS’s technology and market knowledge will enhance digital product delivery. Jio BlackRock aims to prioritize digital solutions and provide financial investment opportunities to all Indians.
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