(Bloomberg) — Prudential Financial Inc.’s investment management arm is considering selling its loss-making asset management unit in India a decade after acquiring the business from Deutsche Bank AG, according to people familiar with the matter.
PGIM Inc., the investment management business of US-based Prudential Financial, has tapped EY to advise on the potential sale of its asset management subsidiary in India, the people said, asking not to be named because the matter is private.
The sale of PGIM India Asset Management Pvt Ltd. is taking place after its parent weighed up the growth of the unit, which manages assets of around 266 billion rupees ($3 billion). The unit has seen little meaningful expansion in recent years, the people said.
PGIM and EY declined to comment.
The asset manager’s business strategy in the country has differed from its peers such as BlackRock Inc. which is investing aggressively in India to tap the rising equity culture. Last year, WestBridge Capital bought a 15% stake in Edelweiss Asset Management Ltd., which is expanding its national presence.
PGIM, a global investment firm with around $1.5 trillion in assets under management, bought Deutsche Bank’s India asset management business in 2015. PGIM has assets across fixed income, equity, alternatives and real estate.
PGIM’s after-tax losses in India rose to more than 235 million rupees in the year ended March 2025, according to its annual report. The firm appointed a new chief executive officer in July 2025, according to a local media report.
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Disclaimer: This story has been published from a wire agency feed without modifications to the text.
