Goldman’s European fund foray may be a taster Unmack1
Goldman Sachs said on Aug. 19 it would acquire NN Investment Partners from Dutch insurer NN Group for 1.6 billion euros.
The transaction will boost Goldman Sachs’ assets under management in Europe to over $600 billion, the bank said. NN Group manages 355 billion euros in funds, of which 35 billion euros were not part of the deal. The acquisition will generate a strong return on invested capital, and a mid-teens internal rate of return, Goldman Sachs said in a statement.
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