Goldman Sachs states its acquisition of NN Investment Partners will push European item development, equity, and sustainable financial investments.
Goldman Sachs (NYSE: GS) has announced the acquisition of Netherlands-based property supervisor NN Investment Partners for 1.7 billion euros ($1.9 billion). According to Goldman Sachs, the purchase will assist the business scale its property management footprint in Europe. In addition, the New York-headquartered banking giant likewise looks to boost its sustainable financial investment abilities.
Goldman Sachs and NN Investment Initiative
A current main Goldman Sachs blog site post specified that the banking giant would incorporate NN Investment Partners into Goldman Sachs Asset Management (GSAM). This indicates that the more than 900 staff members of the Dutch possession supervisor will come under the Goldman Sachs umbrella. Furthermore, the Netherlands will now serve as a center for sustainability in public markets investing for Goldman Sachs. Speaking on the acquisition of NN Investment Partners, chairman, and chief executive officer of Goldman Sachs, David Solomon, stated:
“This acquisition advances our dedication to putting sustainability at the heart of our financial investment platform. It includes a scale to our European customer franchise and extends our management in insurance coverage possession management.”
In addition, Solomon revealed optimism about the collaboration with NN Investment. The CEO assured us that “together we will focus on providing long-lasting worth to our customers and investors”. Furthermore, Solomon likewise intends to diversify Goldman Sachs profits through the NN acquisition to focus on a variety of more foreseeable companies. These consist of customer banking, wealth, and property management.
NN Investment will likewise improve GSAM’s functional performance. The Netherlands-based possessions supervisor probably accomplishes this through a much deeper combination of ecological, social, and governance (ESG) worths. These enhancements will enhance Goldman Sachs’s item variety and provide much better on customers’ investing concerns.
With this acquisition, Goldman Sachs’ properties under guidance (AUM) now sit at around $2.8 trillion. It is likewise worth keeping in mind that under the deal, GSAM has gotten into a long-lasting tactical collaboration with NN Group. The latter is NN Investment’s moms and dad business and will work with Goldman Sachs to handle a $180 billion possession portfolio.
Goldman Sachs is an American international financial investment bank and monetary services business. Founded in 1869, the leading bank ranks 59th on the Fortune 500 list of the biggest United States corporations by overall earnings.
The possession management arm of Goldman Sachs – Goldman Sachs Asset Management – is the main investing location within the popular megabank. According to the bank’s blogpost, GSAM provides “investment and advisory services for the world’s leading organizations, monetary consultants and people, illustration from our deeply linked international network and customized specialist insights, throughout every area and market.”
Headquartered in The Hague, NN Investment Partners handles around $340 billion in properties for organizations and private financiers worldwide. NN Investment Partners has workplaces in 15 nations throughout Europe, North America, Latin America, Asia, and likewise in the Middle East.