D.E. Shaw, Reliance Industries Chief Talk Joint-Venture

Jun 30 2010 | 12:10pm ET

D.E Shaw Group is poised to enter a joint-venture with Indian billionaire and industrialist Mukesh Ambani, as the latter prepares to move into the financial services sector.

Terms of the potential deal—other than that it will be an equal joint-venture—are unclear. But it will allow the Mukesh Dhirubhai Ambani Group, and its Reliance Industries, to enter the financial services business, including private equity funds, the Economic Times reports.

Those business areas opened to Ambani after he and his estranged brother Anil ended their non-compete agreement with one another last month.

Ambani is also looking to buy a majority stake in JM FInancial Asset Management, an Indian money manager and private equity shop.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR