Mumbai, April 2 The TVS Venu Group announced on Thursday that it will acquire PGIM's India asset management business for an undisclosed amount.
The Chennai-based conglomerate, which operates in the auto, financial services, and real estate sectors, has entered into definitive agreements to acquire the India asset management business of Prudential Financial, which holds a 100 per cent stake in PGIM India Asset Management and PGIM India Trustees, according to a statement.
The completion of the transaction is subject to regulatory approvals and other customary closing conditions.
PGIM is a full-service investment manager that offers equity, fixed income, and multi-asset solutions to retail and institutional investors, and managed over Rs 30,000 crore in assets as of December 31 last year.
It manages 25 open-ended mutual funds as of March 2026, and also offers alternative investment funds, portfolio management services, and offshore advisory, according to the statement.