PGIM eyes purchase of alternative investment firm: COO

U.S. asset manager to invest 'significant dollars' in alternatives, Hyat says

20240103N PGIM Hyat cropped

Taimur Hyat, chief operating officer at PGIM, says consolidating alternatives products under one division provides clients with better access. (PGIM)

HIROFUMI TAKEUCHI, Nikkei staff writer

NEW YORK -- U.S. investment firm PGIM is considering acquiring an asset manager that specializes in alternative investments, aiming to expand the group's footprint in a growing sector, a top executive told Nikkei.

"We are going to invest significant dollars," said Taimur Hyat, chief operating officer at PGIM. "We are also looking non-organically to see how to build our private alternatives capabilities."

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