Prudential Group Investment Management has completed its acquisition of Deutsche Bank’s Indian asset management business through its Mumbai-based affiliate.
In August last year Prudential Group Investment Management (PGIM) announced it had reached a definitive agreement to acquire an indirect ownership interest in Deutsche Bank’s Indian asset management business through its affiliate in India, DHFL Pramerica Asset Managers.
With approximately $4 billion in combined assets under management as of March 4, 2016, the acquisition significantly expands PGIM’s product portfolio, distribution platform and client services in India.
«This acquisition underscores our commitment to serving clients in key strategic markets, across our multi-manager platform, we are committed to delivering the highest standards of investment expertise and advice to our clients in India and globally,» said David Hunt, CEO of PGIM.
With $963 billion in assets under management as of Dec. 31, 2015, PGIM ranks among the world’s largest investment management companies.
