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Mukesh Ambani plans to bring money in pocket of common Indians as he joins hands with this company to….

According to media reports, Mukesh Ambani led Jio Financial and largest asset management company BlackRock can enter into the joint venture, which can be their third such JV in India.

The American financial giant BlackRock Inc. is gradually focusing on expanding its operations in the Indian market. In this endeavor, BlackRock is in talks with Mukesh Ambani’s Jio Financial Services Ltd. The two companies are planning to launch a joint private credit venture, aiming to enter into the growing direct lending opportunities in the country.

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Jio Financial and BlackRock Joint Venture

BlackRock Inc., the world’s largest asset management company, is set to collaborate with Mukesh Ambani’s Jio Financial Services Ltd. to initiate a new venture. The two companies are in discussions to launch a private credit venture, intending to take advantage of the increasing direct lending opportunities in India. This venture would provide loans to a wide range of clients, from large corporations to startups.

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According to a report published in ET, an official familiar with the matter stated that the joint venture, which would operate on a 50-50 partnership basis, would offer loans to both large enterprises and startups. If BlackRock and Jio Financial proceed with this plan, it would mark their third collaboration in India. The two firms have already worked together in asset management and stock broking businesses within the country.

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No Comments From BlackRock & Jio Financial 

However, according to the Zee News report, no final decision has been made yet. Although discussions between BlackRock and Jio Financial are ongoing, no final decision has been made. Report citing insiders, claimed that the two companies might ultimately choose not to collaborate. Both BlackRock and Jio Financial spokespersons have declined to comment on the matter.

Jio Financial, is led by veteran banker K.V. Kamath, who also operates a shadow bank, providing services such as home mortgages and loans against mutual fund investments. Earlier this year, BlackRock appointed Maheshwar Nataraj to lead its private credit business in India.

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