Goldman Sachs investment management division co-heads Eric Lane and Timothy O’Neill said the takeover of Dwight is an important milestone in their efforts to build GSAM’s defined contribution investment only business.
"We believe Dwight’s innovation in stable value and GSAM’s deep fixed income resources represent a powerful combination for plan sponsors and their participants, the co-heads added.
The recent takeover deal will strengthen GSAM as a provider of investment solutions for defined contribution (DC) plans, said the firm.
The new entity will operate under the brand name of Dwight Asset Management, as a part of Goldman Sachs Company, and will remain headquartered in Burlington, Vermont, US.
Goldman Sachs Asset Management managed $824bn as of 31 March 2012, and offers investment banking, securities and investment management services worldwide.
