GSAM 'adds scale' to European business as NN IP acquisition completes

NN IP’s 900 employees to move across

Goldman Sachs has completed the acquisition of NN Investment Partners (NN IP) from NN Group NV for approximately €1.7bn, bringing its assets under management to $2.8trn.

The deal, which was announced in August last year, will see NN IP's more than 900 employees join Goldman Sachs Asset Management (GSAM) and brings the latter's assets under supervision in Europe to more than $600bn. The Netherlands, where NN IP is headquartered, will become "an important location" for the European business of GSAM and a "centre of excellence for sustainability in public markets investing", the group said. ESG criteria is integrated into approximately 90% of assets under supervision at NN IP and, at the time the deal was announced, NN IP had $355bn in assets under manag...