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Eton Park to invest Rs 510 Cr in Reliance
By siliconindia
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Friday, 14 December 2007, 20:31 IST
Mumbai: Anil Ambani firm Reliance Capital has said that the global investor Eton Park will be investing Rs 510 crore for a five percent stake in its subsidiary Reliance Capital Asset Management.
According to a statement from the company, Eton Park has proposed to buy a five percent stake in Reliance Capital Asset Management (RCAM) at an equity valuation of Rs 10,000 crore.
The share value of RCAM has gone to 
400 and the proposed investment values RCAM at an about 13 percent of its Assets under Management
"We welcome Eton Park as a respected long-term institutional investor, and value this association given Eton Park's significant global presence in financial Markets," said Vikrant Gugnani, President and CEO, Reliance Capital Asset Management
RCAM will use the proceeds of the transaction for its domestic and international expansions. According to latest data from Association of Mutual Funds in India Reliance Capital, Asset Management is the most valued fund in the country with assets under management worth Rs 77,764.84 crore till November. Eton Park currently manages over $10 billion through its offices in New York, London and Hong Kong
400 and the proposed investment values RCAM at an about 13 percent of its Assets under Management
"We welcome Eton Park as a respected long-term institutional investor, and value this association given Eton Park's significant global presence in financial Markets," said Vikrant Gugnani, President and CEO, Reliance Capital Asset Management
RCAM will use the proceeds of the transaction for its domestic and international expansions. According to latest data from Association of Mutual Funds in India Reliance Capital, Asset Management is the most valued fund in the country with assets under management worth Rs 77,764.84 crore till November. Eton Park currently manages over $10 billion through its offices in New York, London and Hong Kong