BlackRock, the world's largest asset manager, is in talks with Jio Financial Services (JFS), part of Mukesh Ambani's Reliance Group, to create a private credit venture in India.
The proposed 50:50 partnership aims to offer loans to businesses of all sizes, from large corporations to startups. This move taps into India's growing demand for direct lending, expanding beyond their earlier ventures in wealth management and stock broking.