Goldman Sachs acquires Benchmark AMC
17 Mar 2011
Goldman Sachs Asset Management has announced an agreement to acquire Indian asset management company, Benchmark Asset Management.
The transaction, whose terms have not been disclosed, is expected to close later this year, subject to regulatory approvals.
Benchmark Asset Management Company, founded in 2001, is the number one Exchange Traded Funds (ETFs) provider by both market share and assets under management (AuM) in India, which are at approximately $700 million.
Additionally, Goldman Sachs Asset Management plans to bring actively managed on-shore funds to India.
The company has a Mumbai-based team of eight headed by Prashant Khemka. Currently the team provides research for off-shore funds including Indian equities and BRIC equities.
According to Oliver Bolitho, head of Goldman Sachs Asset Management in Asia, India was one of the world's largest growth markets and a strategic priority for Goldman.
.webp)
