PGIM, the investment management unit of US-based Prudential Financial, is exploring options to sell its Indian asset management subsidiary, reported Bloomberg citing sources.
This comes nearly ten years after PGIM acquired the unit from Deutsche Bank.
As per the unnamed sources , PGIM has appointed EY to provide advisory services for the potential sale of PGIM India Asset Management.
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Both PGIM and EY have declined to comment on the ongoing process.
The review of the unit’s future follows a period of stagnation in business growth.
PGIM India currently oversees assets worth about Rs 266bn ($3bn), but the business has not seen expansion in recent times, the sources noted.
PGIM, which manages approximately $1.5tn in assets worldwide across various sectors including fixed income, equities, alternatives, and real estate, took over Deutsche Bank’s India asset management business in 2015.
The latest annual report shows after-tax losses at the Indian arm rose beyond Rs235m for the year ending March 2025.
The subsidiary also saw a leadership change with a new chief executive appointed in July 2025, as reported by local media.
Recent activity in the Indian asset management industry has included several acquisitions and partnership announcements.
BlackRock has been increasing its investments to capitalise on India’s growing equity market participation.
Last year in June, Jio BlackRock Investment Advisers, the joint venture between Jio Financial Services and BlackRock, received a certificate of registration from the Securities and Exchange Board of India (SEBI) to function as an investment adviser.
In November 2025, DWS Group disclosed plans to acquire a 40% stake in Nippon Life India AIF Management (NIAIF).
DWS and Nippon Life India Asset Management (NAMI) also signed an MoU to jointly launch passive investment products for both Indian and UCITS investors, covering product development and distribution.
Additionally, December 2025 saw Mizuho Securities, part of Japan’s Mizuho Financial Group, agree to purchase a 60% stake in Avendus Capital, an Indian financial services company.
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