Goldman Sachs in talks to buy Indian fund manager: Report

Goldman Sachs is in advanced talks to buy Indian fund manager Benchmark Asset Management Co Pvt Ltd, which manages assets worth about $667 million, the Mint said on Friday citing a source it did not name. 

Goldman Sachs Asset Management (India) Pvt Ltd is likely to seal the deal at a valuation of 4-4.5% of the assets under management of Benchmark, a 10-year-old fund manager whose main portfolio is gold exchange-traded funds, the newspaper said. 

Goldman Sachs India head Brooks Entwistle and a Benchmark official offered no comment, it said.                                           

The officials could not be reached immediately.