E.Sun Financial Holding Co. plans to acquire a 91.2% stake in PGIM Prudential Investment Trust Co. from Prudential Financial Inc. for NT$2.76 billion ($85.6 million), expanding its asset management capabilities.
The investment requires regulatory approval and must meet customary closing conditions, E.Sun Financial President Mao-Chin Chen said at a press conference Thursday.
PGIM Prudential, established in 1992 and part of Prudential’s global asset management business since 2000, manages approximately NT$160.8 billion ($5 billion) in assets. The firm operates 30 domestic funds with NT$75.4 billion in assets and 25 discretionary investment accounts totaling NT$85.3 billion.
The fund manager recently launched its first passive Taiwan stock ETF, the “PGIM Prudential Taiwan Market Cap Momentum 50 ETF,” diversifying its product offerings.
E.Sun Financial Chairman Nan-Chou Huang noted that as Taiwan’s financial market enters a “Financial Holding Company 2.0” era, E.Sun is strengthening its competitive position through strategic alliances and selective acquisitions.
The deal would enhance E.Sun’s securities market research, product design, and professional services while expanding business sales and service capabilities, according to Huang.
