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

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note