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Apr, 30 2018

BlackRock bids For acquisition of DSP’s stake in Joint Venture

BlackRock holds a 40% stake while Hemendra Kothari-led DSP Group owns 60% in the JV, which also manages DSP BlackRock Alternative Investment Fund.

Global asset manager BlackRock Inc. is in the acquisition process with DSP Group from their asset management joint venture DSP BlackRock Investment Managers Pvt. Ltd, reported a financial daily, citing two people aware of the development.

BlackRock holds a 40% stake while Hemendra Kothari-led DSP Group owns 60% of the JV, which also manages DSP BlackRock Alternative Investment Fund.

DSP BlackRock’s total assets under management stood at Rs 86,000 crore as of March 2018, according to the report. It is one of the top 10 mutual fund companies in India.

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