Goldman Sachs Asset Management Acquires Dwight Asset Management from Old Mutual Asset Management
Goldman Sachs Asset Management (“GSAM”) announced today it has completed its acquisition of Dwight Asset Management (“Dwight”), a Vermont-based stable value money manager, from Old Mutual Asset Management (“OMAM”). The transaction establishes GSAM as a leading provider of investment solutions for defined contribution (“DC”) plans and reinforces the importance of stable value as a principal preservation option for plan participants.
Dwight, a pioneer in the stable value market, will now be known as Dwight Asset Management, a Goldman Sachs Company, and will remain headquartered in Burlington, VT.
“The acquisition of Dwight is an important milestone in our efforts to build GSAM's defined contribution investment only business,” said Eric S. Lane and Timothy J. O'Neill, co-heads of the Investment Management Division at Goldman Sachs. “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.”
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