US-based DE Shaw plans $200 million investment in Hyderabad

HYDERABAD: Global investment and technology firm DE Shaw, in association with Blackstone Asset Management Company, has agreed to invest $200 million in Hyderabad to set up a facility to provide software services for post-trade activities of asset management companies, said Telangana government in a statement.

The New York headquartered firm will set up a new subsidiary titled Arcesium in Hyderabad in partnership with Blackstone, which will have 400 employees by the year-end to double the number over the next three years.

DE Shaw’s managing director Eric Wepsic has expressed the company’s decision on the new facility during the ongoing US visit of the Telangana information technology and panchayat raj minister KT Rama Rao.

During his visit, Rao also met the managements of several global giants including Google, Microsoft, Boeing, MasterCard and KPMG among others.