The US firm is moving towards offloading an investments business in Australia through an MBO.

Goldman Sachs Asset Management is in exclusive talks to sell its Australian equity and fixed income business via a management buyout, the Australian Financial Review reported, citing unnamed sources.

The prominent investor and head of Australian equities Dion Hershan is leading the MBO and is backed by a capital partner, the publication said. The matter was first reported by Street Talk last Wednesday.  

The institutional GSAM business, which comprises the international funds, will continue to operate in Australia with its team and licence, the report said.

The US investment and financial giant wants to sell its $9 billion Australian equities funds management business run by Hershan. An announcement is due by the end of September, the report added.