Goldman Sachs Group Inc. has agreed to buy the asset-management arm, NN Investment Partners(NNIP), of Dutch insurer, NN Group N.V. in a $1.9 billion deal.
The deal highlights Goldman Sachs's commitment to sustainable investing. It also increases its European ties. This transaction will be the biggest acquisition by the US company since David Solomon became chief executive in 2018. The deal is expected to close by the first quarter of 2022.
NN Group is the largest listed insurance company in the Netherlands. NNIP is a leading European asset manager. It has approximately $355 billion assets under its supervision. The company has another $70 billion of assets under advice.
Goldman Sachs and NN Group have agreed on a 10-year strategic partnership. Goldman will provide services for ...