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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of