Goldman Sachs Asset Management to buy NN Investment Partners 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' employees will join GSAM following the closing of the transaction and GSAM expect the Netherlands to become a "significant location" in their European operations. "We believ...