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- Prudential's (PRU +1.0%) PGIM Investments agrees to acquire Green Harvest Asset Management, a separately managed account (SMA) platform providing services for the needs of high-net-worth investors.
- Green Harvest's SMA strategies use direct indexing through exchange-traded funds with the aim to provide clients with improved after-tax outcomes.
- Terms of the deal, which is expected to close in Q4 2021, weren't disclosed.
- "With markets near all-time highs and potential tax increases on the horizon, understanding the impact of capital gains taxes and implementing strategies focused on after-tax results are critically important for investors, particularly those in the ultra-high-net-worth category," said Stuart Parker, president and CEO of PGIM Investments.
- Previously (Oct. 18), Equinix and PGIM form $575M JV for two Australian data centers