Goldman Sachs wants a bigger piece of Europe’s $29 trillion asset management business

The US investment bank revealed Thursday that it has agreed to buy NN Investment Partners, which has $355 billion in assets under management, from insurance company NN Group (NNGPF).

“This transaction will bring assets under [our] supervision in Europe to over $600 billion, aligning with the firm’s strategic objectives to scale its European business and extend its global reach,” Goldman Sachs said in a statement.

There are nearly €25 trillion ($29.2 trillion) in assets under management in Europe, according to the European Fund and Asset Management Association (EFAMA), making it the second biggest market after the United … Read more