Goldman Sachs stalwart to start own India fund

Mumbai

THE fund manager who set up Goldman Sachs Group Inc's India-focused equity fund in 2006 is set to start one of his own after managing money at the US bank for more than 17 years.

Prashant Khemka, who was chief investment officer for emerging markets at Goldman Sachs Asset until April, plans to launch two long-only, absolute-return funds for investing in Indian shares. An eight-member team is being assembled and the new company, named White Oak Capital, will start operations by August, the 45-year-old said in a telephone interview. "The Indian equity market is home ground for me and it is always good to play with a home advantage," he said.