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Prudential expands India investment management business with Deutsche Bank acquisition

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Prudential Investment Management (PIM) is to acquire Deutsche Bank’s India asset management business through its Mumbai-based affiliate, subject to customary closing conditions and regulatory approval. 

With USD948 billion in assets under management, PIM ranks among the world’s largest investment management companies.

Deutsche Asset Management (India) Pvt Ltd, established in 2003, today is the second largest foreign-owned asset manager in the country. During the period April 1 to June 30, 2015, the business had approximately USD3.2 billion average assets under management. Upon closing, the combined business will significantly expand PIM’s investment management expertise, distribution platform and product portfolio in India.

“This acquisition provides a tremendous opportunity for our business in India and underscores our overall commitment to expanding our global asset management platform through our multi-manager model,” says David Hunt (pictured), CEO of PIM. “Deutsche Bank’s highly-respected investment and client service teams complement the strong team we already have in place to serve new and existing clients, as we continue to build our business across India.”

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