New Delhi, March 16 -- German asset management company DWS Group is set to acquire a 40% stake in Nippon Life India AIF Management, a wholly-owned subsidiary of Nippon Life India Asset Management, for around Rs 733 crore ($79 million).
As part of the deal, DWS will acquire 340,000 shares of Nippon Life India AIF through a preferential allotment at an issue price of Rs 21,569 per share.
The transaction values Nippon Life India AIF at around Rs 1,833.4 crore, or close to $200 million, at current exchange rates.
The capital infusion from DWS will be used to support business growth and expand Nippon Life India AIF's alternatives franchise, Nippon said in an exchange filing. As part of the deal, DWS and Nippon Life India Asset Management will jointly develop and build an alternative funds franchise in India.
The transaction is subject to approvals from the Securities and Exchange Board of India (SEBI) and the Competition Commission of India (CCI).
In November 2025, Nippon Life had said in a stock exchange filing that DWS, part of Deutsche Bank, planned to acquire a 40% stake in Nippon Life India AIF to jointly build an alternative investment fund (AIF) platform in India. It hadn't disclosed the deal value at the time.
Nippon Life India AIF's product portfolio spans private credit, listed equities, real estate and venture capital. Over the past decade, the firm has launched over 22 funds and received over Rs 8,500 crore in commitments.
As part of the partnership, the firm plans to expand product offerings and extend their reach to offshore investors, according to a press release.
DWS and Nippon Life India Asset Management will also continue their strategic collaboration to develop passive investment solutions and distribute actively managed India strategies through DWS's international distribution network. The partnership combines Nippon Life's investment expertise in India with DWS's global reach and product capabilities, the release said.
DWS Group manages assets worth 1,085 billion euros across liquid and illiquid asset classes, offering active, passive, and alternative investment strategies.
Nippon Life India Asset Management manages assets across mutual funds, including exchange-traded funds, managed accounts, including portfolio management services, alternative investments funds, and offshore funds and advisory mandates. It is the asset manager for schemes of Nippon India Mutual Fund and had assets under management of Rs 8.2 trillion as of December 31.
Published by HT Digital Content Services with permission from VC Circle.