PGIM Investments to acquire direct indexing firm Green Harvest Asset Management
Summary
NEWARK, N.J.--(BUSINESS WIRE)--PGIM Investments announced today that it has entered into an agreement to acquire Green Harvest Asset Management LLC (“Green Harvest”), a separately managed account (SMA) platform providing customized solutions for the complex needs of high-net-worth investors. Green Harvest’s SMA strategies employ a unique approach to direct indexing through the use of exchange-traded funds (ETFs) with the potential to provide clients improved after-tax outcomes. Based in New York, the firm specializes in creating and managing ETF portfolios seeking to track U.S., global and custom indices while attempting to maximize after-tax returns. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate. With offices in 16 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.