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Watch: DSP Group to buy out BlackRock's 40% stake in MF JV

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In another exit by a foreign player from the Indian mutual fund space, financial services firm DSP Group on Monday announced buyout of leading global asset manager BlackRock's 40 per cent stake in DSP BlackRock Investment Managers, which manages over Rs 1 lakh crore worth assets. DSP BlackRock is a joint venture (JV) between DSP Group and BlackRock and is one of the leading asset management companies (AMCs) in the country. "The JV partners have entered an agreement whereby DSP Group will acquire the entire 40 per cent stake of BlackRock, to become the sole owner," the Group said in a statement. (Text: PTI)

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