Goldman Sachs Buys Dutch Money Manager in $1.9 Billion Deal
- CEO Solomon sees NN deal accelerating ESG, growth strategy
- Purchase marks latest expansion of bank’s European operations
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Goldman Sachs Group Inc. agreed to buy the asset-management arm of Dutch insurer NN Group NV as the bank grabs a toehold in the fast-growing sustainable-investing industry and boosts its European ties.
The U.S. lender will pay about 1.6 billion euros ($1.9 billion) for NN Investment Partners, according to a statement Thursday. The unit has around $355 billion of assets under supervision, with about three-quarters of its investments backed by environmental, social and governance criteria.