Goldman Sachs Group has completed the previously announced acquisition of NN Investment Partners (NN IP) from NN Group N.V. for €1.7 billion.
The acquisition supports Goldman Sachs’ objective to expand its European presence, with the Netherlands, which is where NN IP is headquartered, becoming an important location and a centre of excellence for sustainability in public markets investing.
The integration of the two companies will begin with NN IP’s 900 employees joining Goldman Sachs Asset Management (GSAM).
David Solomon, chairman and chief executive of Goldman Sachs said: “This acquisition advances our commitment to put sustainability at the heart of our investment platform. It adds scale to our European client franchise and extends our leadership in insurance asset management.
“We are excited to welcome the talented team at NN Investment Partners, a centre of excellence in sustainable investing, to Goldman Sachs and together we will focus on delivering long-term value to our clients and shareholders.”
The deal, which was originally announced in August 2021, has brought Goldman Sachs’ assets under management to approximately $2.8 trillion.
In addition, assets under management in Europe have risen to over $600 billion.
NN IP will enhance GSAM’s existing European presence by adding new capabilities and increasing development in products such as European equity and investment grade credit, sustainable and impact equity, and green bonds.
GSAM plans to leverage NN IP’s ESG expertise to deepen ESG integration across its product range and deliver on clients’ sustainable investing priorities.
© 2022 funds europe
