The private equity arm of Goldman Sachs has exited its investment in India-listed IL&FS Transportation Networks, a subsidiary of IL&FS that develops and manages toll roads. Goldman Sachs, through GS Strategic Investments, sold a 1.3 percent stake, or around 2.6 million shares, on 31 October on the National Stock Exchange of India for a total of INR276 million (approximately US$ 4.5 million). The shares were picked up by Norwegian sovereign wealth fund Government Pension Fund Global. Goldman Sachs held a 4.4 percent stake in IL&FS Transportation at the time of the company’s public issue in March 2010, selling over 2.6 percent stake between January and September 2012. The firm originally invested US$20.5 million in IL&FS Transportation in March 2007.