PGIM considers divesting Indian asset management unit – report

Core Insights - PGIM, the investment management unit of Prudential Financial, is exploring the sale of its Indian asset management subsidiary, PGIM India Asset Management, nearly ten years after its acquisition from Deutsche Bank [1][2] - The decision to review the unit's future comes after a period of stagnation in business growth, with PGIM India managing assets worth approximately Rs 266 billion ($3 billion) [2] - The Indian subsidiary reported after-tax losses exceeding Rs 235 million for the year ending March 2025, and a leadership change occurred with a new CEO appointed in July 2025 [3] Company Developments - PGIM has engaged EY to provide advisory services for the potential sale of PGIM India Asset Management [1] - The Indian asset management industry has seen recent activity, including acquisitions and partnerships, indicating a competitive landscape [3][4] - BlackRock has been increasing investments in India to leverage the growing equity market participation [3] Industry Trends - Jio BlackRock Investment Advisers received registration from SEBI to operate as an investment adviser, highlighting new entrants in the market [4] - DWS Group announced plans to acquire a 40% stake in Nippon Life India AIF Management, indicating ongoing consolidation in the industry [4][5] - Mizuho Securities agreed to purchase a 60% stake in Avendus Capital, further demonstrating the trend of acquisitions within the Indian financial services sector [5]