New Delhi, Nov. 13 -- DWS, the asset management arm of Germany's Deutsche Bank, will purchase a 40% stake in the alternatives unit of Nippon Life India Asset Management to expand its alternative investment platform and global product reach.

Nippon Life India AIF Management (NIAIF), a wholly-owned subsidiary of Nippon Life India Asset Management, will issue new shares to DWS in consideration for the capital infusion, it said in a statement on Thursday. The two companies have signed a memorandum of understanding, and the deal is subject to relevant regulatory approvals.

Through the partnership, the two companies plan to expand their product range and tap offshore investors using DWS's global network. They will also launch passive products...