Goldman Sachs Buys NN Investment Partners
Posted on 08/19/2021
The Goldman Sachs Group, Inc. entered into an agreement to acquire NN Investment Partners from NN Group N.V. for approximately €1.6 billion. 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 European asset manager based in The Hague, Netherlands, with approximately US$ 355 billion in assets under supervision and approximately US$ 70 billion in assets under advice. NN Investment Partners offers a broad range of equity and fixed income products. NN Investment Partners employs more than 900 professionals in 15 countries. NN Investment Partners’ employees will join Goldman Sachs Asset Management following the closing of the transaction, with the Netherlands becoming a significant location for their European business. At March 1, 2014, ING Insurance became NN Group. In 1991, Nationale-Nederlanden and NMB Postbank Group merged to form ING Group.
Goldman Sachs & Co. LLC is serving as financial advisor and Sullivan & Cromwell LLP and Freshfields Bruckhaus Deringer LLP are serving as legal counsels to Goldman Sachs. J.P. Morgan Securities LLC is serving as financial advisor and De Brauw Blackstone Westbroek N.V. is serving as legal counsel to NN Group.
NN Group includes Nationale-Nederlanden, NN, NN Investment Partners, ABN AMRO Insurance, Movir, AZL, BeFrank and OHRA. NN Group is listed on Euronext Amsterdam (NN). NN Investment Partners is the asset manager of NN Group N.V., a publicly traded company listed on Euronext Amsterdam.