16/08/2022

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Goldman Sachs to Gain NN Funding Buddies

NEW YORK, August 19, 2021 – The Goldman Sachs Workforce, Inc. (“Goldman Sachs”) at the moment declared that it has entered into an agreement to get NN Funding Companions from NN Workforce N.V. for approximately €1.6 billion1. The transaction is expected to close by means of the shut of the preliminary quarter of 2022, subject to regulatory and different approvals and stipulations.

NN Funding choice Buddies is a big Ecu asset manager primarily based most commonly in The Hague, Netherlands, with about $355 billion2 in assets beneath supervision and kind of $70 billion in property beneath help. NN Monetary funding Partners gifts a wide collection of equity and fixed source of revenue items, with an impressive Environmental, Social and Governance (ESG) integration right through its group. NN Expense Buddies is a leading-rated ESG manager in Europe and 75% of its property not up to supervision are ESG built-in.

With a heritage dating again once more just about 175 a number of years, NN Funding choice Buddies employs excess of 900 business mavens in 15 international locations around the globe and brings in combination the usage of information and technological innovation with elementary investigation in its funding processes.

NN Funding Companions’ group of workers will join Goldman Sachs Asset Control adhering to the ultimate of the transaction, with the Netherlands getting a sizeable position in our Ecu corporate. We consider that NN Expense Companions’ technology will bolster our fund control and distribution platform right through retail and institutional channels in Europe and help us in turning in very long-phrase price to customers.

NN Monetary funding Companions could be very complementary to Goldman Sachs Asset Control’s current Ecu footprint and can incorporate new talents and boost up growth in pieces comparable to Ecu equity and monetary dedication high quality credit standing, sustainable and affect fairness, and environmentally pleasant bonds.

Click on TO Take a look at SLIDE: Acquisition of NN Monetary funding Companions Hurries up Our Option to Power Larger, Further Resilient Returns

Goldman Sachs has $2.3 trillion in property underneath supervision globally, and this transaction will supply belongings below supervision in Europe to round $600 billion, aligning with the company’s strategic goals to scale its Ecu group and build up its international get admission to.

As a part of the association, Goldman Sachs Asset Management will input right into a prolonged-expression strategic partnership association with NN Workforce to maintain an round $190 billion portfolio of property, reflecting the facility of the trade’ international insurance coverage insurance policies asset management functions and change choices franchise.

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The partnership will construct the group as the largest non-affiliated protection asset manager globally, with greater than $550 billion in belongings underneath supervision, and the purchase will be offering a basis for much more expansion within the company’s Ecu fiduciary management corporate, development at the accomplishment of its machine in the USA and United Kingdom.

David Solomon, Chairman and Major Govt Officer of Goldman Sachs, stated:

“This acquisition makes it imaginable for us to boost up our expansion technique and increase our asset management machine. NN Funding choice Buddies delivers a number one Ecu buyer franchise and an extension of our energy in insurance coverage insurance policies asset management. All through NN Funding choice Companions’ possible choices they’ve been a hit in integrating sustainability which mirrors our personal degree of ambition to position liable making an investment and stewardship on the coronary center of our trade. We look ahead to partnering with the group of workers at NN Expenditure Companions as we goal on providing lengthy-expression receive advantages to our shoppers and our shareholders.” 

David Knibbe, Leader Executive Officer of NN Workforce, reported:

“NN Workforce and NN Expenditure Buddies have a longstanding and thriving shared historical past. We receive advantages this potent and optimistic romantic courting that we’ve got and we glimpse forward to much more growing on it in a brand new shape. This transaction brings with each and every different two world asset supervisors, each with a number of a few years of monetary dedication sensible enjoy. We have now situated a strong and professional affiliate in Goldman Sachs, supplying an environment by which our NN Monetary funding Partners colleagues can lift directly to thrive, even supposing the merged expenditure wisdom and scale will enrich the fortify that includes to NN Expense Companions’ purchasers, like NN Workforce. This transaction may even give NN Workforce better optionality to create a broader collection of asset management propositions for our purchasers. Our approach and ambitions on the subject of ESG will proceed being unchanged and Goldman Sachs stocks our dedication to responsible making an investment. On behalf of the Management Board of NN Workforce, I want to thank our colleagues at NN Funding Buddies for his or her generate, willpower and proceeding focal point on purchasers.”

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Click on TO Standpoint SLIDE: Acquisition of NN Monetary funding Partners

Goldman Sachs & Co. LLC is serving as fiscal marketing consultant and Sullivan & Cromwell LLP and Freshfields Bruckhaus Deringer LLP are serving as criminal counsels to Goldman Sachs. J.P. Morgan Securities LLC is serving as financial marketing consultant and De Brauw Blackstone Westbroek N.V. is serving as criminal recommend to NN Workforce. 

 

 

About Goldman Sachs

The Goldman Sachs Workforce, Inc. is a predominant world fiscal status quo that gives a wide range of economic corporations throughout monetary funding banking, securities, monetary funding management and shopper banking to an enormous and varied shopper base that is composed of businesses, cash institutions, governments and individuals. Introduced in 1869, the group is headquartered in New York and maintains places of work in all primary fiscal facilities all-around the planet.

About Goldman Sachs Asset Management

Bringing with each and every different common and selection investments, Goldman Sachs Asset Control provides purchasers round the earth with a targeted partnership and pay attention to prolonged-phrase effectiveness. As the principle making an investment area inside of simply Goldman Sachs, we ship expenditure and advisory products and services for the arena’s number one establishments, cash advisors and folks, drawing from our deeply related world-wide group and custom designed professional insights, throughout each and every person area and marketplace position. Driven by means of a keenness for our purchasers’ capability, we search to create lengthy-term relationships focused on conviction, sustainable results, and shared good fortune above time. Agree to us on LinkedIn.

About NN Workforce

NN Workforce (NN) is an international financial corporations corporate, energetic in 19 international locations around the globe, with a robust presence in quite a few Ecu nations and Japan. With all its group of workers, the Workforce delivers retirement products and services, pensions, protection, investments and banking to kind of 18 million consumers. NN Workforce accommodates Nationale-Nederlanden, NN, NN Funding choice Buddies, ABN AMRO Protection, Movir, AZL, BeFrank and OHRA. NN Workforce is printed on Euronext Amsterdam (NN).

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About NN Expenditure Partners

NN Expense Companions is the asset supervisor of NN Workforce N.V., a publicly traded undertaking defined on Euronext Amsterdam. NN Monetary dedication Partners is headquartered in The Hague, the Netherlands and manages on the subject of $355 billion in property for establishments and specific particular person buyers around the world. NN Expense Partners employs above 900 gurus and has places of work in 15 nations, servicing shoppers right through Europe, North The us, Latin The us, Asia and the Heart East.

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Contacts

For Goldman Sachs

Media Family members
Andrea Williams | Tel: +1 212 902 5400
Joseph Stein | Tel: +44 207 774 4080

Dealer Family members
Carey Halio | Tel: +1 212 902 0300

For NN Workforce

Media Family members
Maurice Piek
+31 () 6 30382911
Media.family [email protected]

Investor Family members
+31 () 88 670 6647
Dealer.family [email protected] 
 


1Shows a €1.515 billion base acquire promoting value moreover a normal ticking charge.
2~$355 billion belongings not up to supervision accommodates a ~$35 billion portfolio of loan assets, which might be out of scope for this transaction and can lift directly to be controlled and serviced by means of NN Workforce.

This push free up incorporates “forward-hunting statements” within the which means that of the protected harbor provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Forward-on the lookout statements aren’t historical information or statements of latest diseases, however as a substitute constitute most effective the company’s ideals about foreseeable long run actions, a lot of which, by means of their personality, are inherently undecided and outdoor of the company’s control. It’s possible that the company’s exact good fortune might range, probably materially, from the anticipated results in those ahead-seeking statements. Statements in regards to the company’s predicted returns on invested cash when it comes to the transaction constitute ahead-seeking statements. This sort of statements are topic to the danger that returns may well be materially significantly not up to anticipated. For information about one of the vital hazards and vital components that can have an have an effect on at the company’s longer term good fortune, see “Chance Elements” in Part I, Merchandise 1A of the company’s As soon as-a-year Record on Type 10-Ok for the 12 months completed December 31, 2020.