Jio Financial Services Ltd (JFSL), the financial services arm of Reliance Industries Ltd (RIL) and the US-based investment company BlackRock on Wednesday announced to form a 50:50 joint venture to enter into the country’s asset management industry.
Both the entities are targeting an initial investment of $150 million each in the joint venture, RIL said in a release. JFS recently demerged from RIL.
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