Goldman Sachs has announced the completion of the acquisition of NN Investment Partners from NN Group for €1.7 billion.

NN Investment Partners will be integrated into Goldman Sachs Asset Management with the company’s 900 employees joining Goldman Sachs. NN Investment Partners has ESG criteria integrated into around 90% of its assets under management.

David Solomon, Chairman and Chief Executive Officer of Goldman Sachs, said:

“This acquisition advances our commitment to put sustainability at the heart of our investment platform. It adds scale to our European client franchise and extends our leadership in insurance asset management. We are excited to welcome the talented team at NN Investment Partners, a center of excellence in sustainable investing, to Goldman Sachs and together we will focus on delivering long-term value to our clients and shareholders.”