• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mr Brian Murdock, President, New York Life Investment Management, and Mr. Rajan Jaitley, Chairman, Jacob Ballas Capital India Pvt Ltd. at a press conference in the Capital on Thursday. - - Ramesh Sharma

New Delhi , Oct. 13

NEW York Life Investment Management Holding LLC (NYLIMH), a wholly-owned subsidiary of global insurance major New York Life Insurance Co, has picked up a 24.6 per cent stake in Jacob Ballas Capital India, a non-banking financial company.

"We have signed a deal for picking up 24.6 per cent stake in Jacob Ballas. We are waiting for regulatory approval," the President of New York Life Investment, Mr Brian A. Murdock, said here on Thursday.

Working with Jacob Ballas, NYLIMH has invested about $38 million in Bharti Televentures, Gujarat Pipavav Port and Thomson Press. New York Life has made a further commitment of $60 million to continue its private equity investment programme and has already completed investments in Punj Lloyd, Reliance Energy and ABG Shipyard.

Jacob Ballas provides investment advisory and structuring services, and is managed by Mr Rajan Jetley, former CEO of Air India, and Mr Rajeev Thakore along with six other investment professionals.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Changing view from REER window

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line