Nikko prepares for India funds entry
Nikko Asset Management is setting up a joint venture with Indian investment bank Ambit.
Nikko Asset Management has established a joint venture in India that will apply next year for a license to conduct onshore asset management business, says Bill Wilder, president and CEO in Tokyo.Nikko AM has partnered with Ambit RSM Private, a Mumbai-based investment bank and private-equity firm that has also launched a securities business earlier this year. The JV, which has yet to be named, will be owned 74.9% by Nikko and 25.1% by Ambit.Wilder says the initial scope of the JVÆs act…
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