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April 09, 2008 at 12:00 PM
Prudential Financial Inc. and a partner have lined up a manager for a mutual fund company they are organizing in South Asia.
Prudential, Newark, N.J., and DLF Ltd., New Delhi, India, say they will appoint Vijai Mantri to be chief executive of the new joint venture, DLF Pramerica Asset Managers Private Ltd., Mumbai, India, as soon as they have the regulatory approvals necessary to incorporate the company.
Prudential will own 61% of DLF Pramerica and DLF, a real estate developer, will own the rest, the companies say.
Mantri previously was chief executive of Deutsche Asset Management Company Private Ltd., Mumbai, a unit of Deutsche Bank A.G., Frankfurt am Main, Germany.
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