After banks and equity players, DSP, Mirae join race for IDFC AMC

It is not yet clear if DSP and BlackRock will enter a non-compete agreement if a split in their joint venture materialises

After banks and private equity players, two more entities — the DSP Group and Mirae Asset Global Investments (India) — have thrown their hats in the ring to acquire IDFC Asset Management Company (AMC).

The DSP Group is one of the oldest financial services firms in India and is headed by veteran investment banker Hemendra Kothari. Notably, DSP Group has also separately entered into talks to sell its 60 per cent stake in DSP BlackRock to its joint venture partner BlackRock. 

DSP BlackRock is among the top 10 fund houses in the country and managed assets worth about Rs 860