DE Shaw, headquartered in New York, has offered to invest $200 million in Hyderabad
Frank Wisner, former US ambassador to India, with TS IT minister K.T. Rama Rao in New York on Friday.
Hyderabad: Leading international investment and technology development company, DE Shaw, headquartered in New York, has offered to invest $200 million in Hyderabad. It will set up a new subsidiary company in Hyderabad called Arcesium, in partnership with Blackstone Management.
Managing director of DE Shaw, Mr Eric Wepsic made this announcement during his meeting with Telangana IT minister K.T. Rama Rao on Friday. Mr Rama Rao is currently on a two-week US tour.
Meanwhile, former US ambassador to India Frank Wisner, has agreed to serve as a “goodwill ambassador” for Telangana by offering his services to promote Telangana as a preferred investment destination.
DE Shaw, which has a presence in Hyderabad since the past 20 years, will position 400 employees in Hyderabad by 2015-end which will be doubled in 3 years. Arcesium will focus on providing key software and services for post-trade activities of asset management companies.
Mr Rama Rao met a few more top corporate bosses in the US and sought investments for the state. He also met Ajay Banga, the president of MasterCard. Mr Banga proposed putting together a group of leading private corporations to work with TS in a PPP mode to work in the area of cyber security.
KPMG chairman John Veihmeyer met Mr Rama Rao in New York and offered advisory services to investors all over the globe. He was briefed about the forthcoming global investment summit, taking place in Hyderabad in February next year. KPMG has supported many governments across the world in organising such events and Mr Veihmeyer said that the company would like to become the knowledge partner for this summit.
Parag Saxena, CEO of New Silk Route, an investment company that has made successful investments in over 300 start-ups the world over, called on Mr Rama Rao in Rockefeller Centre in New York. He agreed to serve as a mentor for T-Hub.
TS has been selected to participate in the second edition of Innotrek-2015, organized by NASSCOM at Silicon Valley from May 11 to 18. Mr Rama Rao and IT secretary Jayesh Ranjan will participate in the event.
( Source : dc correspondent )
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