Goldman Sachs is seizing control of our online platform.

In a significant move, Goldman Sachs has announced the acquisition of NN Investment Partners for approximately €1.6 billion. This deal, the largest under CEO David Solomon, marks a significant expansion for Goldman Sachs Asset Management.

The acquisition is expected to be completed in the first quarter of 2022. David Solomon, CEO of Goldman Sachs, stated that the acquisition will accelerate their growth strategy and expand their asset management platform.

David Knibbe, CEO of NN, mentioned that the transaction brings together two international asset managers with decades of investment experience. NN Investment Partners manages approximately €355 billion in assets, most of which come from the insurance sales of its parent company, Nationale-Nederlanden (NN).

After the acquisition, Goldman Sachs will manage the previously NN Investment Partners-managed assets. However, the company is not specified to use the acquired assets for any particular purpose beyond management.

NN plans to use the fresh capital from the sale for its own investments and to increase dividends to shareholders. The acquisition does not involve any other subsidiaries or assets of Nationale-Nederlanden (NN) besides NN Investment Partners.

The acquisition does not indicate any significant change in the overall structure or strategy of Goldman Sachs. Goldman Sachs is committed to responsible investing, and the acquisition of NN Investment Partners reflects this commitment, as the latter has integrated sustainability into its offerings.

This acquisition is a strategic move for both companies, providing NN Group with more opportunities to develop a broader range of asset management offerings for its customers. For Goldman Sachs, it signifies a step forward in their growth strategy, expanding their asset management platform and solidifying their position in the international asset management market.