Groww Asset Management today announced the closure of the strategic investment by State Street Investment Management in Groww AMC, the asset management company subsidiary of Groww Asset Management, following receipt of all necessary regulatory approvals.The partnership, first announced in January 2026, gives State Street Investment Management a 4.85% voting and 23% economic interest in Groww AMC, according to a press release by the fund house.Also Read | Groww ropes in US-based State Street as strategic investor with Rs 580 crore AMC dealThe completed transaction brings together one of India’s fastest-growing investment platforms with one of the world’s largest asset managers. For Groww AMC, the partnership adds global, market-tested expertise across indexing, ETFs, systematic investing, macroeconomic analysis and portfolio construction, said the release.For State Street Investment Management, the partnership provides access through Groww AMC to India’s expanding wealth market, as Groww AMC establishes itself as a leading asset manager in India seeking to meet the evolving investment needs of Indian investors, the release further said.With this transaction now complete, Groww AMC and State Street Investment Management intend to deepen their collaboration across product development, distribution and global market access. The partnership is expected to support Groww AMC’s evolution into a broader asset management platform, with access to State Street Investment Management's deep investing expertise and capabilities, particularly in ETFs and systematic investment strategies."Our ambition is to build Groww AMC into one of India’s most trusted and customer-focused asset management companies,” said Harsh Jain, Co-founder, Groww. “Having State Street Investment Management as an investor and partner brings valuable global experience and perspectives that can help us strengthen our capabilities and build for the long term.”“India represents an important and strategic market for global investors,” said Yie-Hsin Hung, Chief Executive Officer of State Street Investment Management. “With this transaction now complete, we are excited to partner with Groww AMC to drive their next growth phase. Our shared goal is to expand asset class access for local investors while strengthening the institutional bridge connecting India’s financial markets to the global investment community.”Over the last few years, Groww AMC has built a strong active fund management team and launched a range of products that have delivered meaningful alpha relative to their benchmarks. Some of its funds are already ranked among the top performers in their respective categories.Alongside active funds, Groww AMC has also built a growing suite of ETFs and passive products, giving investors access to specific sectors, themes and investment strategies in a simple and cost-efficient manner.Also Read | Gold, silver ETFs crash up to 8% as US Fed rate hike expectations climb. What should investors do?Groww also plans to build a GIFT City platform to provide Indian investors with seamless access to global investment opportunities and diversified exposure across international markets.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)If you have any mutual fund queries, message ET Mutual Funds on Facebook/Twitter. We will get them answered by our panel of experts. Do share your questions at ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.