Prudential Acquires Wadhwani Asset Management

INVESTMENT MANAGEMENT DEALS BLOG

November 28, 2018

On November 13, 2018, Prudential Financial’s PGIM announced its acquisition of Wadhwani Asset Management.

Under the terms of the transaction, Wadhwani Asset Management (“WAM”) will become part of PGIM’s QMA business and WAM’s investment platform will operate separately from QMA’s investment platform. WAM founder, Dr. Sushil Wadhwani will continue to serve as chief investment officer of QMA’s investment platform. The transaction is expected to close during the first quarter of 2019 and is subject regulatory approvals. Further terms of the deal were not disclosed.

PGIM is the global investment management business of Prudential Financial, Inc. with more than $1 trillion in assets under management as of September 30, 2018. QMA is the quantitative and global multi-asset solutions manager of PGIM and has $128.1 billion in assets under management as of September 30, 2018.

WAM, founded in 2002, is a London-based quantitative investment management firm that runs quantitative macro hedge funds and risk premia strategies.