Goldman Sachs Acquires Deutsche’s Stable Value Business

September 26, 2013

On September 25, 2013, Goldman Sachs Asset Management announced that it had agreed to acquire the stable value business of Deutsche Asset & Wealth Management.

On September 25, 2013, Goldman Sachs Asset Management announced that it had agreed to acquire the stable value business of Deutsche Asset & Wealth Management.  The transaction is part of Goldman’s plan to grow its defined contribution platform and to establish a new stable value collective trust.  Deutsche Asset & Wealth Management has approximately $1.2 trillion in assets under management, including its stable value business, which has approximately $21.6 billion in assets under supervision.  As part of the transaction, certain members of Deutsche’s stable value team will join Goldman Sachs Asset Management, which currently has approximately $55 billion in defined contribution mandates under management, including approximately $34 billion in stable value assets under management.  The transaction, which is subject to closing conditions, is expected to close in the first quarter of 2014. 

For the press release, please click here.


Categories

Investment Manager M&A, Transactions