TVS Venu Group Set to Acquire PGIM's Asset Management Business in India

TVS Venu Group Acquires Prudential Financial's Indian Asset Management Business

TVS Venu Group, an Indian multinational conglomerate, announced on Thursday that it has entered into definitive agreements to acquire Prudential Financial Inc's 100 percent stake in PGIM India Asset Management Pvt Ltd and PGIM India Trustees Pvt Ltd through its subsidiary, TVS Venu Management and Consultancy Services Pvt Ltd, and its affiliates.

The transaction is subject to regulatory approvals and other customary closing conditions, according to the company. This acquisition is expected to give TVS Venu Group access to a full-service investment management platform in India, expanding its presence in the financial services sector.

PGIM India is the India business of PGIM, the global investment management arm of US-based Prudential Financial. As of December 31, 2025, the company managed more than Rs 30,000 crore in assets. PGIM India offers a range of solutions to retail and institutional investors, including equity, fixed income, and multi-asset solutions. The company currently manages 25 open-ended mutual funds and also provides alternative investment funds, portfolio management services, and offshore advisory.

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TVS Venu Group is a leading Indian conglomerate with operations in over 80 countries, and its interests span across automotive, financial services, and real estate. The acquisition of PGIM India is expected to strengthen TVS Venu Group's presence in the Indian financial services sector.

Key Participants in the Transaction