Goldman Sachs Focusing on Retirement Market with Acquisition

Goldman Sachs recently agreed to purchase Dwight Asset Management from Old Mutual.

Dwight is a fixed income manager that specializes in stable value funds.  The firm currently has $42 billion in assets under management.

Stable value funds provide 401k plan participants with a very low risk fixed income option. 

The Dwight acquisition will allow Goldman to enhance its offerings in the defined contribution or 401k market.  Stable value options are one of the largest asset classes in the 401k space, and they are popular with employees who are approaching retirement.

Dwight will become part of Goldman Sachs Asset Management.

Source: Bloomberg

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