BlackRock , the world's biggest asset manager, is in talks with Mukesh Ambani-led Reliance Group firm Jio Financial Services to set up a private credit venture, Bloomberg News reported on Wednesday, citing people familiar with the matter.

BlackRock (NYSE:BLK) is in talks with Jio Financial Services, which billionaire Mukesh Ambani owns a hefty stake, to establish a private credit venture in India, following the footsteps of global firms like Apollo Global Management (APO) to capitalize on the country's growing direct lending opportunities,

BlackRock, Inc. (NYSE:BLK) reportedly plans to establish a private credit venture with Indian billionaire and the richest Asian Mukesh Ambani’s Jio Financial Services Ltd. Bloomberg, citing people familiar with the discussions,

BlackRock Inc., the world’s largest asset manager, is in talks with billionaire Mukesh Ambani’s Jio Financial Services Ltd. to set up a private credit venture, aiming to tap the expanding direct lending opportunities in India,

BlackRock Inc., the world’s largest asset manager, is in discussions with Mukesh Ambani’s Jio Financial Services Ltd. to launch a private credit venture, aiming to tap into the growing direct lending market in India,

The JV of BlackRock and Jio Financial Services will be the third-one in the country following the proposed joint ventures of asset managers and stock broking businesses in the country.