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Press Release

PGIM Investments to acquire direct indexing firm Green Harvest Asset ManagementPGIMInvestmentstoacquiredirectindexingfirmGreenHarvestAssetManagement

By PGIM Global Communications — Oct 19, 2021

3 mins

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Firm expands platform to include customized solutions to meet the complex needs of high-net-worth investors

 

NEWARK, N.J., Oct. 19, 2021 – 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. PGIM, Inc. is the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU) — a top-10 investment manager globally.

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.

Media Contact

Kylie Scott

+1 973-902-2503

kylie.scott@pgim.com

Stuart Parker
“With markets near all-time highs and potential tax increases on the horizon, understanding the impact of capital gains taxes and implementing strategies focused on after-tax results are critically important for investors.”
Stuart ParkerPresident and Chief Executive OfficerPGIM Investments

“With markets near all-time highs and potential tax increases on the horizon, understanding the impact of capital gains taxes and implementing strategies focused on after-tax results are critically important for investors, particularly those in the ultra-high-net-worth category,” said Stuart Parker, president and CEO of PGIM Investments. “This acquisition underscores our commitment to meeting the evolving needs of our clients and we are pleased to welcome Green Harvest on board.”

Subject to customary closing conditions, the deal is expected to close in the fourth quarter of 2021. Upon completion, Green Harvest will join PGIM Investments’ retail platform, expanding the firm’s wide range of investment solutions and capabilities.

“We see tremendous value in combining Green Harvest’s capabilities with the strength and stability of PGIM Investments and look forward to bringing PGIM’s clients personalized solutions to meet their investment objectives,” said Robert Holderith, Green Harvest CEO.

Berkshire Global Advisors served as exclusive financial advisor to Green Harvest in this transaction.

ABOUT GREEN HARVEST ASSET MANAGEMENT

Green Harvest Asset Management LLC was formed in 2017 by a team of seasoned ETF and asset management experts. 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. The firm partners with wealth advisors to create and deliver the strategy that is best suited for clients’ needs.

ABOUT PGIM INVESTMENTS

PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world1 with approximately $1.5 trillion in assets under management as of June 30, 2021. 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. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

1 Prudential Financial, Inc. (PFI) is the 10th-largest investment manager (out of 477) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets managed by PFI as of Dec. 31, 2020.

  • By PGIM Global Communications

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For Professional Investors only.* All investments involve risk, including the possible loss of capital.

This material is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. PGIM is the principal asset management business of Prudential Financial, Inc. and a trading name of PGIM, Inc. and its global subsidiaries. PGIM, Inc. is a registered investment adviser with the U.S. Securities and Exchange Commission (“SEC”). Registration with the SEC does not imply a certain level of skill or training.

The information on this website is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. In making the information available on this website, PGIM, Inc. and its affiliates are not acting as your fiduciary.    

In the United Kingdom, this website may be issued by PGIM Private Alternatives (UK) Limited or PGIM Private Capital Limited.  In the European Economic Area (“EEA”), this website may be issued by PGIM Private Capital (Ireland) Limited or PGIM Luxembourg S.A. or PGIM Real Estate Germany AG.

PGIM, Inc. has its headquarters at 655 Broad Street, Newark, NJ 07102. PGIM Private Capital (Ireland) Limited has its registered office at IDA Business Park, Letterkenny, Co. Donegal, F92 FP83, Ireland. PGIM Private Capital (Ireland) Limited is authorised and regulated by the Central Bank of Ireland and registered in Ireland under company number 635793 operating on the basis of a European passport. PGIM Limited and PGIM Private Alternatives (UK) Limited have their registered offices at Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number: 193418). PGIM Private Alternatives (UK) Limited is authorised and regulated by the FCA of the United Kingdom (Firm Reference Number: 181389). PGIM Private Capital Limited has its registered address at 1 London Bridge, London SE1 9BG and is authorised and regulated by the FCA of the United Kingdom (Firm Reference Number: 172071). PGIM Luxembourg S.A., Netherlands Branch is registered with the Netherlands Chamber of Commerce under number 85998877 and has its local offices at Gustav Mahlerlaan 1212, 1088LA Amsterdam, The Netherlands. PGIM Luxembourg S.A. has its registered address at 2 Boulevard de la Foire, L-1528 Luxembourg and is authorised and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg (registration number A00001218). PGIM Real Estate Germany AG has its registered address at Wittelsbacher Platz 1, 80333 Munchen, Germany and is authorised and regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”) in Germany (registration number 10138142).

In Japan, information is provided by PGIM Japan Co., Ltd. (“PGIM Japan”) and/or PGIM Real Estate (Japan) Ltd. (“PGIMREJ”).  PGIM Japan, a registered Financial Instruments Business Operator with the Financial Services Agency of Japan offers various investment management services in Japan.  PGIMREJ is a Japanese real estate asset manager that is registered with the Kanto Local Finance Bureau of Japan.

In Hong Kong, information is provided by PGIM (Hong Kong) Limited, a regulated entity with the Securities & Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is issued by PGIM (Singapore) Pte. Ltd. (“PGIM Singapore”), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial adviser. This material is issued by PGIM Singapore for the general information of “institutional investors” pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the “SFA”) and “accredited investors” and other relevant persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, information is issued by PGIM, Inc., which is licensed to provide discretionary investment management services directly to South Korean qualified institutional investors on a cross-border basis.   

Prudential Financial, Inc. (“PFI”) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. 

*PGIM.com/Podcasts and its content is intended for informational or educational purposes only and is not directed exclusively to Professional Investors. 

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