D.E. Shaw Joint Venture with Mukesh Ambani’s Reliance Industries Soon

D.E. Shaw Joint Venture with Mukesh Ambani’s Reliance Industries Soon. Get here latest business related news like D.E. Shaw, Indian Billionaire Plan Financial Services Venture.

D.E. Shaw wants to expand its relationship with India’s richest man Mukesh Ambani’s with a new financial-services joint venture. D. E. Shaw & Co., L.P. firm was founded by David E. Shaw, who was formerly a faculty member in the computer science department at Columbia University. The agreement has been some time in coming; Ambani and his estranged brother, Anil, ended the non-compete agreement that has kept the oil billionaire out of the financial services sector last year. Shortly afterwards, Reliance and D.E. Shaw created a joint infrastructure fund and began talks about creating joint private equity vehicles. The two sides have also mulled a joint carbon-trading venture.

In a statement, Reliance said it would rely on D.E. Shaw’s “investment and technology expertise”, while contributing “operational knowledge and extensive presence” in India. No financial, or other, terms of the agreement were released.

D. E. Shaw firm, through various affiliates, specializes in applying quantitative and qualitative trading strategies to hedge fund management and other investments. It makes private equity investments in early-stage and established firms involved in technology, health care, and financial services. It also acquires assets of distressed companies.

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