Prudential Financial is said to mull India asset manager sale

(Bloomberg) — Prudential Financial Inc.’s investment management arm is considering selling its loss-making asset management unit in India, a decade after buying it from Deutsche Bank AG, according to people familiar with the matter.

PGIM Inc., the investment management company of U.S.-based Prudential Financial, has asked EY to advise on the potential sale of its asset management subsidiary in India, the sources said, asking not to be named because the matter is private.

The sale of PGIM India Asset Management Pvt Ltd. comes as the parent company weighs expansion of the unit, which manages assets of about 266 billion rupees ($3 billion). The unit has seen little meaningful expansion in recent years, sources said.

PGIM and EY declined to comment.

The asset manager’s business strategy in the country is that of BlackRock Inc., which has been investing aggressively in India to capitalize on the emerging equity culture. It was different from its peers. Last year, WestBridge Capital acquired a 15% stake in Edelweiss Asset Management Ltd., expanding its national presence.

PGIM, a global investment firm with approximately $1.5 trillion in assets under management, acquired Deutsche Bank’s India asset management business in 2015. PGIM has assets in fixed income, equity, alternatives and real estate.

PGIM’s after-tax losses in India rose to over Rs 235 million in the year ending March 2025, according to its annual report. According to a report in local media, the company appointed a new chief executive officer in July 2025.

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