TVS Venu Group to acquire PGIM’s India asset management unit

TVS Venu Group has agreed to acquire its Indian investment fund and alternatives business from global asset manager PGIM.

The group led by Sudarshan Venu, TVS Venu Management and Consultancy Services Pvt. signed definitive agreements through. Ltd will acquire 100% stake in PGIM India Asset Management Pvt. Ltd (PGIM India AMC) and PGIM India Trustees Pvt. Ltd released a statement from the company.

The company will acquire 100% stake in PGIM India AMC from Prudential Financial, the size of the deal was not disclosed. The transaction is subject to regulatory approvals and other customary closing conditions.

Khaitan & Co was the legal advisor to TVS Venu Group and Shardul Amarchand Mangaldas & Co was the legal advisor to Prudential Financial. Ernst & Young LLP served as exclusive M&A advisor to Prudential Financial.

PGIM India AMC managed assets worth ₹30,000 crore as of December 2025 and had 25 plans as of March 2026. losses ₹23.6 crore in FY25, according to its annual report.

Assets under management (AUM) of the domestic mutual fund industry ₹82.03 trillion as of February, an increase of almost 3 times since 2021, according to the Association of Mutual Funds in India (Amfi). Debt mutual fund account ₹19.44 trillion, hybrid plans contribute ₹11.13 trillion and the rest are equity assets.

Abhishek Tiwari is the current chief executive officer of PGIM India AMC, while Vinay Paharia is the chief investment officer.

PGIM India AMC, formerly known as DHFL Pramerica Mutual Fund, was established in 2008 as a trust sponsored by Prudential Financial and received the Securities and Exchange Board of India’s approval in 2010 to start mutual fund business and operations.

With operations spanning the United States, Asia, Europe and Latin America, Prudential Financial offers a wide range of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management.