Chennai-based TVS Venu Group said Thursday it has inked a deal to acquire US-based Prudential Financial Inc.’s stake in PGIM India Asset Management Pvt Ltd and PGIM India Trustees Pvt Ltd.
TVS Venu didn’t disclose any financial terms of the transaction to acquire PGIM India, the investment manager of PGIM India Mutual Fund.
The completion of the transaction is subject to regulatory approvals and other customary closing conditions.
PGIM is the global investment management business of Prudential Financial. The India unit offers equity, fixed income and multi-asset mutual funds to retail and institutional investors, and managed over Rs 30,000 crore of assets as on December 31. PGIM India manages 25 open-ended mutual funds as of March 2026. It also offers alternative investment funds, portfolio management services, and offshore advisory.
Prudential Financial provides a wide range of services like insurance, retirement planning and investment management. It oversees around $1.5 trillion in assets as of December 2024.
The TVS Venu Group is a conglomerate with operations in over 80 countries, with interests in automotive, financial services, and real estate sectors.
Khaitan & Co acted as legal advisor to TVS Venu Group and Shardul Amarchand Mangaldas & Co acted as the legal advisor to Prudential Financial. Ernst & Young acted as the exclusive mergers and acquisitions advisor to Prudential Financial.
