TVS Venu Group to acquire PGIM’S Asset Management business in India

TVS Venu Group announced on Thursday that it has entered into definitive agreements, through TVS Venu Management and Consultancy Services Private and its affiliates, to acquire Prudential Financial, Inc.’s 100% stake in PGIM India Asset Management and PGIM India Trustees.

The completion of the transaction is subject to regulatory approvals and other customary closing conditions.

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PGIM India is a wholly owned business of PGIM, the global investment management business of PFI. It is a full-service investment manager offering a broad range of equity, fixed income and multi-asset solutions to retail and institutional investors, managing over Rs 30,000 crore of assets as at December 31, 2025.

Khaitan & Company acted as legal advisor to TVS Venu Group and Shardul Amarchand Mangaldas & Company acted as the legal advisor to PFI. Ernst & Young LLP acted as the exclusive M&A advisor to PFI.

TVS Venu Group is a leading Indian multinational conglomerate with diversified businesses spanning industries including automotive, financial services, and real estate, and a global footprint in 80+ countries.

PGIM India Asset Management is the full-service investment manager of PGIM India Mutual Fund, offering a broad range of equity, fixed income, and multi-asset solutions to retail and institutional investors throughout the country.

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PGIM India is a wholly owned business of PGIM, the global investment management business of the US-based Prudential Financial, Inc. PGIM India manages 25 open-ended mutual funds as of March 2026 and also offers alternative investment funds, portfolio management services, and offshore advisory.

In 2019, Prudential Global Investment Managers (PGIM) announced that it had completed the purchase of its previously 50% held joint venture with DHFL.

The fund house, earlier known as DHFL Pramerica Asset Managers, was changed to PGIM India Mutual Fund, subject to regulatory approval.

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