TVS Venu Group to Acquire PGIM India Asset Management Business
The transaction is subject to regulatory approvals and customary closing conditions.
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TVS Venu Group has signed definitive agreements to acquire the India asset management business of Prudential Financial, marking a significant move in the country’s financial services sector.
The acquisition will be carried out through TVS Venu Management and Consultancy Services Private Limited and its affiliates, as per Moneycontrol media reports. It involves the purchase of a 100% stake in PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited.
The transaction is subject to regulatory approvals and customary closing conditions, according to a company statement.
PGIM India, part of global investment manager PGIM, manages assets worth over INR 30,000 crore as of December 31, 2025. The firm provides a wide range of investment solutions, including equity, fixed income and multi-asset products, catering to both retail and institutional investors.
It currently operates 25 open-ended mutual funds and also offers portfolio management services, alternative investment funds and offshore advisory solutions.
The deal represents a strategic exit for Prudential Financial from the Indian asset management market. For TVS Venu Group, it offers an established platform to expand its presence in investment management.
Legal advisors to the transaction included Khaitan & Co for TVS Venu Group and Shardul Amarchand Mangaldas & Co for Prudential Financial. Ernst & Young LLP acted as the exclusive M&A advisor to Prudential Financial.
TVS Venu Group has signed definitive agreements to acquire the India asset management business of Prudential Financial, marking a significant move in the country’s financial services sector.
The acquisition will be carried out through TVS Venu Management and Consultancy Services Private Limited and its affiliates, as per Moneycontrol media reports. It involves the purchase of a 100% stake in PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited.
The transaction is subject to regulatory approvals and customary closing conditions, according to a company statement.
PGIM India, part of global investment manager PGIM, manages assets worth over INR 30,000 crore as of December 31, 2025. The firm provides a wide range of investment solutions, including equity, fixed income and multi-asset products, catering to both retail and institutional investors.
It currently operates 25 open-ended mutual funds and also offers portfolio management services, alternative investment funds and offshore advisory solutions.
The deal represents a strategic exit for Prudential Financial from the Indian asset management market. For TVS Venu Group, it offers an established platform to expand its presence in investment management.
Legal advisors to the transaction included Khaitan & Co for TVS Venu Group and Shardul Amarchand Mangaldas & Co for Prudential Financial. Ernst & Young LLP acted as the exclusive M&A advisor to Prudential Financial.
