BlackRock to Sell Stakes to DSP Group and Exit Indian JV
The world's largest asset manager BlackRock Inc. is all set to sell its 40% stake in DSP BlackRock Investment Managers Pvt. Ltd. to joint venture partner DSP Group, adding to the club of foreign asset managers that have left from Indian fund industry.
As far as sources are concerned, DSP Blackout Investment Manager is currently valued at Rs. 5000 crores. A person familiar with the matter on the promise of anonymity said,
As of now, BlackRock is exiting the JV. BlackRock has been in talks with DSP for about a year and initially, they were interested to buy DSP’s 60% stake. DSP rather chose the option of retaining its footprint in India.
The world's largest asset manager in-houses around $6.32 trillion in assets worldwide. It is a 40:60 joint venture between BlackRock and DSP Group whic...