BlackRock, the world’s largest asset manager, is reportedly planning to establish a private credit venture with Indian billionaire Mukesh Ambani’s Jio Financial Services. This move signifies a growing interest in the Indian market, particularly in direct lending. This partnership will mark BlackRock’s third collaboration with Ambani, expanding their presence in India’s financial sector.
Jio Financial Services, the financial arm of Reliance Industries, has been experiencing a consistent upward trend, reaching record highs. Factors contributing to this growth include strong financial performance, the establishment of a joint venture with BlackRock, and the company’s inclusion in the Nifty Next 50 index. Reliance Strategic Investments Limited, which was demerged and rebranded as Jio Financial Services, made its stock market debut in August 2023, with a slight premium over the discovered price.
