Mutual fund house Pramerica, jointly owned by Dewan Housing Finance Corporation and US-based Prudential Financial, has agreed to acquire Deutsche Bank’s asset management business in India.
Neither party disclosed the size of the deal but industry sources estimate it to be INR3.5bn ($54.89m).
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The acquisition is expected to enhance Pramerica’s investment management expertise, distribution platform and product range broadly across the India.
In India, Pramerica AMC has offices located at 19 cities including Ahmadabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Pune.
Pramerica International Investments CEO Glen Baptist said: "The strong track record of Deutsche Bank Group’s asset management business in India, its talented leadership team, and deep relationships with institutional clients and distribution partners, perfectly complement the sales, investment and product capabilities of our existing business.
"When the transaction is completed, we will have the scale and platform necessary to make our investment strategies available to clients across India and put us within sight of the top 10 asset management businesses."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
