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Benzinga
Benzinga
Business
Kaustubh Bagalkote

Indian Billionaire Mukesh Ambani's 50-50 Joint Venture With Larry Fink's BlackRock Raises $2.1 Billion In Debut Fund Offering

BlackRock Larry Fink India Jio Financial Services BlackRock Inc Jio BlackRock Jio Financial
BlackRock

Jio BlackRock Asset Management raised more than $2.1 billion across three cash and debt mutual fund schemes in its maiden offering, marking a significant milestone for the joint venture between Indian billionaire Mukesh Ambani‘s Jio Financial Services and BlackRock Inc. (NYSE:BLK).

What Happened: The three-day debut attracted investments from over 90 institutional investors and more than 67,000 retail investors, according to Reuters. The joint venture received its mutual fund license in May, enabling the launch of these initial schemes.

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