Reliance and D. E. Shaw Group Form JV
This JV will incorporate the D. E. Shaw groupâ€™s investment and technology expertise with Relianceâ€™s operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace.
D. E. Shaw group's activities range from the deployment of investment strategies based on either mathematical models or human expertise to the acquisition of existing companies and the financing or development of new ones.
Mukesh Ambani, chairman and managing director of Reliance Industries, said: â€œReliance is delighted to partner with the D.E. Shaw group in the financial services domain. The D.E. Shaw group is a natural partner for Reliance. Together, we look forward to participating in the growing Indian financial services sector.â€
Lou Salkind, a member of executive committee at D. E. Shaw group, said: â€œWe are excited about this new partnership with Reliance. We have had a long-term commitment to Asia generally and to India specifically, having begun our operations in the country fifteen years ago.
â€œWe believe this joint venture allows us to apply to the Indian markets our historical success in investment management and market-making, and that strengthening our presence in India and deepening our relationship with Reliance benefits our business globally.â€
Anil Chawla, managing director and head of the private equity activities in India for D. E. Shaw group, said: â€œThis joint venture will draw upon the core competencies of both firms to develop a platform that can serve the growing needs of Indian companies and individuals.â€
How far the JV benefits the firms?
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