Portfolio > Asset Managers

Pru Forms Joint Venture In India

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Prudential Financial Inc. has become the majority owner of a new investment company in India.

Prudential, Newark, N.J., will own a 61% interest in the new joint venture, DLF Pramerica Asset Managers Private Ltd., Mumbai, and DLF Ltd., New Delhi, India, a large real estate developer, will own 39%, according to Prudential and DLF.

Pramerica Asset Managers will sell mutual funds and other investment products, organizers say.

Prudential began working with DLF to form a life insurance joint venture in India back in February.

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