The ongoing US tour of Telangana minister K.Taraka Rama Rao is turning out to be a success. In a fresh development, DE Shaw, a New York-based leading investment and technology development company, has come forward to invest $ 200 million in Hyderabad. The firm, which has a presence in Hyderabad since the past 20 years, announced setting up a new subsidiary called Arcesium in the city in partnership with Blackstone Asset Management Company.
This was disclosed by Minister for IT and Panchayat Raj K T Rama Rao on Friday. The minister is presently in the US on a mission to attract global investments into Telangana. DE Shaw would position 400 employees in Hyderabad by the end of the year and the number would be doubled in the coming three years. Arcesium would focus on providing key software and services for post-trade activities of asset management companies. This announcement was made by the Managing Director of DE Shaw Company Eric Wepsic in the presence of the Minister.