Goldman Sachs to Buy NN Investment Partners

Goldman Sachs Group agreed to buy the asset-management arm of NN Group NV, handing the Dutch insurer cash proceeds of EUR 1.7bn.

Goldman Sachs logo | Photo: BRENDAN MCDERMID/REUTERS / X90143

Closing of the deal for NN Investment Partners is subject to customary conditions and is expected to take place by the first quarter of 2022, NN said in a statement on Thursday. Satish Bapat, Chief Executive Officer of the investment arm, will step down from NN's management board with immediate effect and continue to lead NN Investment Partners.

Under the agreement, NN Group and Goldman Sachs Asset Management will enter into a 10-year partnership under which the combined company will continue to provide asset management services to NN Group.

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