DWS to acquire 40% stake in Nippon Life India AIF Management

Asset manager DWS on Monday said it has signed agreements to acquire a 40 percent equity stake in Nippon Life India AIF Management Limited (NIAIF), a subsidiary of Nippon Life India Asset Management Ltd (NAMI).

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The announcement follows a non-binding Memorandum of Understanding signed on November 13, 2025, under which the firms had outlined plans to collaborate on building investment capabilities focused on India’s alternatives market.

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"DWS has signed agreements to invest in Nippon Life India AIF Management Limited (NIAIF), a subsidiary of NAMI," both companies said in a joint statement. Upon subscribing to newly issued shares, DWS will acquire a 40 percent stake in NIAIF, formalising its role as a minority shareholder and strategic partner.

"Upon subscription of the newly issued shares, DWS will acquire a 40 percent equity stake in NIAIF, thereby formalizing its role as a minority shareholder and strategic partner in the build out of India-focused alternatives capabilities," the statement added.

DWS and NAMI said they aim for the joint venture to develop into a leading, scalable alternatives platform, enabling both Indian and international investors to participate in the long-term growth opportunities of the Indian alternatives market.

"NIAIF is still in an early growth phase and has so far built a comprehensive alternatives product portfolio across private credit, listed equities, real estate, and venture capital," the statement said.

Under the partnership, the companies plan to expand the product offering and increase access to offshore investors. "As part of the joint venture, the product offering is intended to be further expanded and its reach extended to offshore investors."

Completion of the transaction remains subject to regulatory clearances and other business conditions. Beyond the equity investment, the two companies said they will continue collaborating on a broader range of investment products and distribution initiatives.

"In addition to the now agreed shareholding in NIAIF, DWS and NAMI continue to pursue a close strategic collaboration on the development and launch of passive investment solutions, as well as a global agreement for the distribution of actively managed India strategies through DWS’ international distribution network."

"The partnership will combine NAMI’s long-standing market and investment expertise in India with DWS’ global reach and product capabilities," the statement said.