Goldman Sachs Asset Management announced it will buy Dwight Asset Management, a Vermont-based stable value money manager, from Old Mutual Asset Management. The acquisition is part of Goldman Sachs' efforts to establish a leading position in the defined contribution investment-only business.
"GSAM's acquisition of Dwight increases our already strong commitment to the defined contribution business and enables us to deliver more investment solutions to help DC plan participants preserve and grow their hard earned retirement savings," said Eric S. Lane and Timothy J. O'Neill, co-heads of the Investment Management Division at Goldman Sachs. "Many of our clients are focused on stable value as an important asset class for DC plans and Dwight has been an innovator in this space."
Goldman Sachs has grown its DC business over the past several years. Dwight is a pioneer in the $540 billion stable value market.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
