DWS, Nippon Life in talks on India venture

Deutsche Bank's investment arm DWS is in talks to form an asset management joint venture in India with the Japanese insurer Nippon Life, four people with knowledge of the matter said, as the German company seeks to expand in Asia.

- Reuters

FRANKFURT/MUMBAI:

The negotiations are at an early stage and expected to take time due to regulatory issues, said the people, asking for anonymity to allow them to describe the private talks.

DWS, with more than €1 trillion ($1.13 trillion) in assets under management, is one of Europe's biggest fund managers. Nippon Life, as Japan's largest insurer, has been on an international buying spree.

The discussions, which have not previously been reported, follow a breakdown in talks for a separate DWS joint venture in China that marked a setback for Deutsche's Asia ambitions.

They are another example of foreign financial firms turning to India, the world's most populous country with a growing middle class.