Rel MF to Buy Goldman’s India Fund biz for Rs 243 crore
Reliance Capital Asset Management (RCAM), which manages Reliance Mutual Fund, has entered into a deal to buy Goldman Sachs’ Indian asset management business for Rs 243 crore in an all-cash deal. Goldman Sachs Asset Management has over Rs 7,132 crore, a little over half a percentage of the Rs 14 lakh crore MF market.
RCAM will take over all 12 schemes of Goldman Sachs, including the government’s ambitious Central Public Sector Enterprises (CPSE) Exchange Traded Fund. Reliance Capital said that the transaction has received approval from the respective boards and is expected to be complete by the end of the year. Details