TVS Venu Group has entered into definitive agreements to acquire Prudential Financial Inc’s entire stake in PGIM India Asset Management and PGIM India Trustees.
The deal being executed through TVS Venu Management and Consultancy Services and its affiliates is subject to regulatory approvals and other customary closing conditions.
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 ₹30,000 crore of assets as of December-end.
Khaitan & Co acted as legal advisor to TVS Venu Group and Shardul Amarchand Mangaldas & Co acted as the legal advisor to PFI. Ernst & Young LLP acted as the exclusive M&A advisor to PFI.
PGIM India is a wholly-owned business of PGIM, the global investment management business of the US-based Prudential Financial, Inc.
It manages 25 open-ended mutual funds in India as of March-end and also offers alternative investment funds, portfolio management services and offshore advisory.
In 2019, Prudential Global Investment Managers completed purchase of 50 per cent stake held by its joint venture partner DHFL.
The fund house, earlier known as DHFL Pramerica Asset Managers was changed to PGIM India Mutual Fund.
The 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 over 80 countries.
Published on April 2, 2026
