“Damon Dash, the man who helped Jay-Z take Roc-A-Fella Records from the streets to the corporate level, and his wife Rachel Roy announced Monday that they’ve have formed a $4 billion dollar joint venture Jones Apparel Group to develop, market and license the New York-based fashion brand named after his wife.” Under the terms of the agreement, Jones owns 50% of the joint venture interest. The remaining interest is owned by the two founders, Rachel Roy and Damon Dash, as well as TSM Capital which acquired a minority stake in the business last November. Jones said it will assume operations of the existing designer collection business under license with the new joint venture.