DWS Group to buy 40% in Nippon Life India AIF biz

Mumbai: German asset manager DWS Group will pick up a 40% stake in Nippon Life India Asset Management's alternatives business, a release said.

The stake sale in Nippon Life India AIF Management is aimed at scaling up the business across alternatives, active and passive assets.

As part of the memorandum of understanding (MoU), DWS, formerly Deutsche Asset Management, and Nippon will also jointly launch passive products. Both firms also aim for a global distribution arrangement to develop and distribute actively-managed mutual funds with India-focused strategies through DWS' global distribution network, the release said.


AIF structured funds, introduced in India in 2012, have amassed nearly $171 billion in gross capital commitments and is projected to expand at a compounded rate of 32% to $693 billion over the next five years, said Nippon.