• Jio BlackRock combines Jio Financial Services’ knowledge and resources and
BlackRock’s scale and investment expertise to deliver affordable, innovative
investment solutions to millions of investors in India.
• Partnership aims to transform India’s asset management industry through a digitalfirst offering and democratise access to investment solutions for investors in India.
Jio Financial Services Limited (JFS) and BlackRock
announced an agreement to form Jio BlackRock, a 50:50 joint venture that
combines the respective strengths and trusted brands of BlackRock and JFS to deliver techenabled access to affordable, innovative investment solutions for millions of investors in India.
Jio BlackRock brings BlackRock’s deep expertise and talent in investment management, risk
management, product excellence, access to technology, operations, scale, and intellectual
capital around markets, while JFS contributes local market knowledge, digital infrastructure
capabilities and robust execution capabilities. Together, the partnership will introduce a new
player to the India market with a unique combination of scope, scale, and resources. JFS and
BlackRock are targeting initial investment of US$150 million each in the joint venture.
Rachel Lord, Chair & Head of APAC, BlackRock, said: “India represents an enormously
important opportunity. The convergence of rising affluence, favourable demographics, and digital
transformation across industries is reshaping the market in incredible ways.
We are very excited to be partnering with JFS to revolutionise India’s asset management industry
and transform financial futures. Jio BlackRock will place the combined strength and scale of both
of our companies in the hands of millions of investors in India.”
Speaking on this transaction, Mr Hitesh Sethia, President and CEO, JFS, said: “This is an
exciting partnership between JFS and BlackRock, one of the largest and most respected asset
management companies globally. The partnership will leverage BlackRock’s deep expertise in
investment and risk management along with the technology capability and deep market
expertise of JFS to drive digital delivery of products.
Jio BlackRock will be a truly transformational, customer centric and digital-first enterprise with
the vision to democratise access to financial investment solutions and deliver financial well-being
to the doorstep of every Indian.”
The joint venture will launch operations post receipt of regulatory and statutory approvals. The
company will have its own management team.
