Goldman Sachs Asset Management (GSAM) is set to buy Dutch asset manager NN Investment Partners (NN IP) for €1.6bn.
The transaction is expected to close by the end of the first quarter of 2022 subject to regulatory and other approvals and conditions. GSAM beat Frankfurt-based asset manager DWS in bidding for NN IP. The acquisition is Goldman Sachs' largest since David Solomon became chief executive in 2018. NN Investment partners has $355bn of assets under management, 75% of which are ESG integrated. The Dutch business's employees will join GSAM following the closure of the transaction and GSAM expects the Netherlands to become a "significant location" in their European operations. GSAM a...
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