Authors: Super UserMumbai: DSP Group will be buying out BlackRocks 40 per cent stake in DSP BlackRock Investment Managers.
The firm is proposed to be known as DSP Investment Managers and DSP BlackRock Mutual Fund is proposed to become DSP Mutual Fund, subject to regulatory approvals.DSP BlackRock is a joint venture between the DSP Group and Blackrock with DSP Holding 60 per cent stake and Blackrock remaining.
The joint venture partners have entered into an agreement whereby DSP Group will acquire the entire 40 per cent stake of Blackrock, to become the sole owner.DSP Blackrock Mutual Fund is the 9th largest asset management company in India, managing assets worth Rs 86,000 crore.