Dwight, which manages and advises $42bn in assets as of 31 December 2011, specializes in fixed income investment management for retirement plans, corporations, public funds and other financial institutions.
Goldman Sachs said the acquisition will help it to become a major player in the defined contribution (DC) investment-only business.
OMAM CEO Peter Bain said that the transaction will free up capital to redeploy into their global distribution and asset management franchise.
Goldman Sachs co-heads of the Investment Management Division Eric Lane and Timothy O’Neill jointly said that the acquisition enables them to deliver more investment solutions to help DC plan participants preserve and grow their hard earned retirement savings.
Terms of the transaction, is expected to close in the second quarter of 2012, were not disclosed.
