(Bloomberg) -- BlackRock Inc., the world’s largest asset manager, agreed to buy an exchange-traded funds unit from Credit Suisse Group AG to boost its presence in Switzerland.

The purchase of a business with $17.6 billion of client assets under management is expected to close by the end of the second quarter, the New York-based firm said today. BlackRock didn’t disclose the price of the Credit Suisse unit, which has 58 ETFs, including $8.7 billion in nine funds domiciled in Switzerland and others in Ireland and Luxembourg.

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