Press Releases

BlackRock closes transaction to sell minority interest in DSP BlackRock to The DSP Group

Aug 16, 2018

Delhi, Mumbai, August 16, 2018 - BlackRock, Inc. (NYSE: BLK) (“BlackRock”) and The DSP Group have completed a transaction for BlackRock to sell its minority interest in DSP BlackRock Investment Managers Pvt. Ltd. to The DSP Group. BlackRock had held a 40% stake in the joint venture, which manages and markets a range of co-branded mutual funds in India.

Ryan Stork, Chairman of BlackRock Asia Pacific, said:

“BlackRock has a deep, long-term commitment to the India market, and today employs more than 1,400 professionals in offices across Gurgaon, Mumbai and Bangalore.  We remain focused on India as an investing market for BlackRock, and on building and supporting our technological innovation and operations.

Today we announce the end of a decade’s partnership with DSP. This has come about in realization of the fact the two partners need to go their separate ways in order to address the Indian asset management industry according to our differing strategies and attributes. BlackRock is confident The DSP Group will perform admirably as India’s asset management industry evolves, and wishes it every success.”

The financial impact of the transaction is not material to BlackRock earnings. Terms were not disclosed.

Media Contacts

BlackRock
Rowena Kwok (Hong Kong)
Phone : +852 3903 2913
Email: rowena.kwok@blackrock.com

Cynthia Ng (Hong Kong)
Phone: +852 3903 2553
Email: cynthia.ng@blackrock.com

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BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of September 30, 2018, the firm managed approximately $6.44 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com.