Goldman Sachs Now Owns Dwight Asset Management

Eliane Chavagnon

16 May 2012

Goldman Sachs Asset Management has completed its previously-announced acquisition of Dwight Asset Management from Old Mutual Asset Management.

Dwight will now operate as Dwight Asset Management, a Goldman Sachs company, and will remain headquartered in Burlington, VT, the firm said in a statement.

“The acquisition of Dwight is an important milestone in our efforts to build GSAM's defined contribution investment-only business,” said Eric Lane and Timothy O'Neill, co-heads of the investment management division at Goldman Sachs.

As an affiliate of Old Mutual, Dwight provides fixed income investment management services for institutional clients, including retirement plans, corporations, public funds, insurance companies, financial institutions, endowments, foundations, and Taft-Hartley plans.

Dwight had unaudited gross assets of $22.2 million as, at 31 December last year, with assets under management of $33.2 billion as of 30 September.

Goldman Sachs Asset Management is the asset management division of The Goldman Sachs Group, which manages $824 billion, as at 31 March.