The Goldman Sachs Group, Inc. (“Goldman Sachs”) announced that it has entered into an agreement to acquire NN Investment Partners from NN Group N.V. for approximately €1.6 billion1. The transaction is expected to close by the end of the first quarter of 2022, subject to regulatory and other approvals and conditions. NN Investment Partners is a leading European asset manager based in The Hague, Netherlands, with approximately $355 billion2 in assets under supervision and approximately $70 billion in assets under advice. NN Investment Partners offers a broad range of equity and fixed income products, with a strong Environmental, Social and Governance (ESG) integration across its business. NN Investment Partners is a top-ranked ESG manager in Europe and 75% of its assets under supervision are ESG integrated. With a heritage dating back almost 175 years, NN Investment Partners employs more than 900 professionals in 15 countries and combines the use of data and technology with fundamental analysis in its investment processes.
NN Investment Partners’ employees will join Goldman Sachs Asset Management following the closing of the transaction, with the Netherlands becoming a significant location in our European business. We believe that NN Investment Partners’ expertise will strengthen our fund management and distribution platform across retail and institutional channels in Europe and support us in delivering long-term value to clients. NN Investment Partners is highly complementary to Goldman Sachs Asset Management’s existing European footprint and will add new capabilities and accelerate growth in products such as European equity and investment grade credit, sustainable and impact equity, and green bonds. Goldman Sachs Asset Management will enter into a long-term strategic partnership agreement with NN Group to manage an approximately $190 billion portfolio of assets, reflecting the strength of the business’ global insurance asset management capabilities and alternatives franchise. The partnership will establish the firm as the largest non-affiliated insurance asset manager globally, with over $550 billion in assets under supervision, and the acquisition will provide a foundation for further growth in the firm’s European fiduciary management business, building on the success of its platform in the United States and United Kingdom.