PGIM is focusing on expanding its private credit, real assets, and international markets as David Hunt transitions leadership to Jacques Chappuis. The firm aims to enhance its private credit capabilities through acquisitions in Europe and Asia, while also growing its insurance asset management business and maintaining a commitment to active management. Hunt believes Chappuis" experience aligns well with PGIM"s strategic growth plans.
Deloitte has raised concerns about Fusion Finance's ability to continue as a going concern after the company reported losses of Rs 305 crore and breached loan covenants on borrowings of Rs 5,618 crore. The statutory auditor highlighted that the company is negotiating with lenders for waivers on immediate repayment rights, but uncertainty remains regarding its financial stability.
Blackstone Inc. and Warburg Pincus are exploring strategic options for IntraFi, a fintech firm focused on securing bank deposits, potentially leading to a sale valued at $12 billion or more. Discussions with investment banks are underway, with interest expected from large financial technology firms or a possible initial public offering in early 2025.
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