Goldman Sachs AM Acquires Indian Firm

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Goldman Sachs Asset Management will acquire Mumbai-based Benchmark Asset Management Company. Terms of the deal have not been disclosed and no exact time period was specified for when the deal will close other than "later in the year".

Benchmark has been in business for about a decade. According to Goldman Sachs, which currently has a team of eight based out of Mumbai, Benchmark has the largest market share and assets under management (about $700 million) for Exchange Traded Funds (ETFs) in India

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