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October 20, 2021

PGIM Investments to buy direct indexing firm Green Harvest

By Verdict Staff

PGIM Investments, the investment business of Prudential Financial, has brokered a deal to purchase New York-based direct indexing firm Green Harvest Asset Management for an undisclosed amount.

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The deal is expected to close in the fourth quarter of the year.

Founded in 2017, Green Harvest is a separately managed account (SMA) platform that offers customised solutions for high-net-worth (HNW) investors.

The firm also specialises in creating and managing exchange-traded funds (ETF) portfolios with focus on the US, global and custom indices.

Its SMA strategies are said to employ direct indexing through the use of ETFs to provide ‘improved after-tax outcomes’ for clients.

The addition of Green Harvest is expected to help PGIM expand its range of investment solutions and capabilities.

PGIM Investment president and CEO Stuart Parker said: “With markets near all-time highs and potential tax increases on the horizon, understanding the impact of capital gains taxes and implementing strategies focused on after-tax results are critically important for investors, particularly those in the ultra-high-net-worth category.

“This acquisition underscores our commitment to meeting the evolving needs of our clients and we are pleased to welcome Green Harvest on board.”

Under the terms, Green Harvest will join PGIM Investments’ retail platform.

Green Harvest CEO Robert Holderith said: “We see tremendous value in combining Green Harvest’s capabilities with the strength and stability of PGIM Investments and look forward to bringing PGIM’s clients personalised solutions to meet their investment objectives.”

In July this year, PGIM agreed to acquire Montana Capital Partners to bolster its alternatives offering.

Last year, the firm teamed up with fintech firm iCapital Network to boost its distribution and servicing capabilities.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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