Reliance - BlackRock joint venture gets SEBI nod
- finminati
- Jun 12
- 2 min read
Updated: Jun 21
12 June 2025, Thursday
In July 2023, Mukesh Ambani led Reliance Industries and world’s largest asset management company, BlackRock announced their plans to enter the Indian Financial Services industry.
Jio BlackRock Investment Advisers Private Limited (JBIAPL) is a 50:50 joint venture between Reliance Industries arm Jio Financial Services (JFS) and BlackRock.
The joint venture would aim to make high-quality investment advice more accessible and affordable through a digital-first approach.
Earlier this year, both entities invested ₹66.5 crore ($7.78 million) into the joint venture, bringing their total investment to ₹84.5 crore.
What do the two entities bring to the joint venture?
As per an announcement on BlackRock’s website:
BlackRock would bring its deep expertise and talent in investment management, risk management, product excellence, access to technology, operations, scale, and intellectual capital around markets
JFS would contribute local market knowledge, digital infrastructure capabilities and robust execution capabilities.
Recent Updates about the Joint Venture
(I) Regulatory Approvals:
On 26th May 2025, the joint venture received approval from the SEBI to launch its mutual fund business in India.
On 10 June 2025, SEBI granted permission to JBIAPL to act as an Investment Advisor.
(II) Website Launch:
Earlier this week in June’25, JBIAPL unveiled its website.
They launched an early access initiative, whereby individuals could preview the platform before public launch, access simple, engaging educational content on investing and be among the first to explore Jio BlackRock’s digital-first investment solutions.
(III) Leadership Appointment:
Sid Swaminathan, MD and CEO of Jio BlackRock Asset Management (the mutual fund business)
He was previously head of International Index Equity at BlackRock.
Marc Pilgrem, MD and CEO of Jio BlackRock Investment Advisers (the investment advisory arm)
Pilgrem has over 25 years’ experience in the global financial services industry.
News Sources / References:
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