We Know Goldman Bought An Asset Manager But The Big News Is Who They're Not Acquiring

Reuters reports that Goldman Sachs has acquired Dwight Asset Management, a specialist in stable-value funds with $42 billion in assets. 

Stable-value funds are popular with soon to be retirees and with an ageing demographic, Goldman saw value in buying a specialist in the field. The deal is expected to close in the second quarter of this year, according to sources.

The bigger news, however, is the asset manager Goldman didn’t buy.

In December, Goldman was rumoured to be considering a deal to buy Deutsche Bank’s asset management business. The German bank’s asset management division had almost $700 billion in AUM as of September 2011.

While Deutsche Bank continues to shop its investment unit, it appears that Goldman had it sights set on a much more targeted transaction.

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