In its first ever acquisition, Reliance Capital Asset Management (RCAM) today announced takeover of global giant Goldman Sachs' mutual fund business in India for Rs 243 crore in an all-cash deal, as yet another foreign player exits the 13 lakh crore rupee Indian Mutual Fund market. The deal, under which RCAM will acquire all 12 onshore mutual fund schemes of Goldman Sachs Asset Management India with total asset under management of 7132 crore rupees, would also make Reliance MF the exclusive fund manager for the government's ambitious Central Public Sector Enterprises (CPSE) Exchange Traded Fund.The transaction has been approved by the boards of the two companies and is expected to be completed in the currentfiscal, RCAM's parent firm Reliance Capital said in a statement. Reliance Capital is the financial services arm of business conglomerate Reliance Group and is also present in insurance, brokerage and wealth management among other areas.Goldman Sachs was given the mandate last year to manage CPSE ETF through which the government has so far raised Rs 4,000 crore by selling part of its stake in ten central PSUs as part of its disinvestments programme. The company had entered the Indian mutual fund industry in 2011 with acquisition of Benchmark Mutual Fund for Rs 120 crore. In last few years, a number of global players have exited the Indian mutual fund business.