D.E. Shaw, Reliance Industries launch financial services JV
Global hedge fund D. E. Shaw and Indian power major Reliance Industries Limited have linked to form a domestic financial services JV.
Financial specifications of the venture were not disclosed, but a statement noted that the two companies look to combine D. E. Shaw's investment knowledge with Reliance's understanding of the Indian landscape.
D.E. Shaw, with $20 billion worth of assets under management worldwide, has more than 700 employees in its Hyderabad, Gurgaon and Mumbai offices. "We have had a long-term commitment to Asia generally and to India specifically, having begun our operations in the country fifteen years ago," Lou Salkind, a member of the D. E. Shaw group's Executive Committee, said of the JV.
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