NN Investment Partners

Last updated
NN Investment Partners
Company type Division
Industry Asset Management
Founded1994  OOjs UI icon edit-ltr-progressive.svg
Headquarters The Hague, Netherlands
Key people
Co-Chief Executive Officer: Martijn Canisius and Gerald Cartigny. CIO: Valentijn van Nieuwenhuijzen
Parent Goldman Sachs
Website nnip.com

NN Investment Partners (also known as NN IP) was a Netherlands-based asset manager, with headquarters in The Hague and offices in 15 countries in Europe, Asia and the Americas. The company was acquired by Goldman Sachs Asset Management, the asset management division of Goldman Sachs in April 2022.

Contents

NN IP was an active manager for institutional and wholesale investors around the world. It managed €287 billion in assets for clients, [1] integrating Environmental, social and corporate governance (ESG) criteria throughout the investment process for the majority of its strategies. NN IP was globally ranked as the 87th biggest asset management firm [2] and the third biggest Dutch asset manager. [3] NN IP offered its services to pension funds, insurers, family offices, independent financial advisers, banks and private individuals; in addition to managing the assets of the NN Group.

On the 19th of August 2021 NN announced an agreement to sell its asset manager NN Investment Partners (NN IP) to Goldman Sachs Group, Inc. [4] which was completed in 2022.

History

ING brand used before 2015 ING Primary Logo RGB.svg
ING brand used before 2015

The company was created under the name of ING Investment Management in 1994, when parent company NN Group was part of bank and insurance company ING Group. In the aftermath of the 2008 financial crisis, ING was required to divest its insurance activities and the asset management division. [5] NN Group, the combination of the two businesses, was listed on Euronext Amsterdam in 2014. [6] The following year, ING Investment Management was rebranded as NN Investment Partners. [7]

In 2022 Goldman Sachs Group, Inc acquired NN Investment Partners from NN Group N.V. for €1.7 billion. [8]

On 6 March 2023, the legal entity NN Investment Partners B.V. ceased to exist and was incorporated into Goldman Sachs Asset Management.

Responsible Investment Policy

In 2019, NN IP published its first Responsible Investing Report, [9] in which it provides insights into how it integrates environmental, social and governance (ESG) criteria into its investment processes. According to the report a set of ESG criteria is applied to 67% of its total assets under management. [10]

NN IP generally pursues active engagement with potentially controversial companies to help them improve their ESG profiles. One example cited by NN IP is the palm oil industry. Engagements with several large plantation companies have resulted in progress on encouraging them to pursue a more sustainable policy. In 2019, NN IP became a member of the Roundtable on Sustainable Palm Oil (RSPO). [11]

In a limited number of cases, the company has divested it holdings in sectors deemed detrimental to society and/or the planet. Excluded business activities include adult entertainment, arctic drilling, fur & specialty leather, gambling, nuclear energy, shale oil & gas and weapons.[ citation needed ]

Assets under management

Related Research Articles

<span class="mw-page-title-main">Goldman Sachs</span> American investment bank

The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international financial centers. Goldman Sachs is the second-largest investment bank in the world by revenue and is ranked 55th on the Fortune 500 list of the largest United States corporations by total revenue. In the Forbes Global 2000 of 2024, Goldman Sachs ranked 23rd. It is considered a systemically important financial institution by the Financial Stability Board.

<span class="mw-page-title-main">BlackRock</span> American investment company

BlackRock, Inc. is an American multinational investment company. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$11.5 trillion in assets under management as of December 31, 2023. Headquartered in New York City, BlackRock has 70 offices in 30 countries, and clients in 100 countries.

Goldman Sachs Asset Management Private Equity is the private equity arm of Goldman Sachs, focused on leveraged buyout and growth capital investments globally. The group, which is based in New York City, was founded in 1986.

<span class="mw-page-title-main">Socially responsible investing</span> Any investment strategy combining both financial performance and social/ethical impact.

Socially responsible investing (SRI) is any investment strategy which seeks to consider financial return alongside ethical, social or environmental goals. The areas of concern recognized by SRI practitioners are often linked to environmental, social and governance (ESG) topics. Impact investing can be considered a subset of SRI that is generally more proactive and focused on the conscious creation of social or environmental impact through investment. Eco-investing is SRI with a focus on environmentalism.

Principles for Responsible Investment is a United Nations-supported international network of financial institutions working together to implement its six aspirational principles, often referenced as "the Principles". Its goal is to understand the implications of sustainability for investors and support signatories to facilitate incorporating these issues into their investment decision-making and ownership practices. In implementing these principles, signatories contribute to the development of a more sustainable global financial system.

<span class="mw-page-title-main">Mercuria</span> Multinational commodity trading company

Mercuria Energy Group Ltd. is a Cypriot-domiciled Swiss multinational commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas, power, biodiesel, base metals and agricultural products. The company is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide. The group operates in 50 different countries.

<span class="mw-page-title-main">NN Group</span> Dutch insurance and asset management company

NN Group N.V. is the parent company of NN Investment Partners and Nationale-Nederlanden. Nationale-Nederlanden is one of the largest insurance and asset management companies in the Netherlands. NN Group is headquartered in The Hague, its office in Rotterdam is located in the skyscraper Gebouw Delftse Poort, which was the tallest skyscraper in the Netherlands until 2009. Aside from these two offices, the company has an office in Ede but no other main offices in the Netherlands, instead NN mainly relies on independent intermediaries for selling insurance.

<span class="mw-page-title-main">Stichting Pensioenfonds ABP</span> Pension fund for government employees in the Netherlands

Stichting Pensioenfonds ABP, frequently referred to as ABP, is the pension fund for government and education employees in the Netherlands. For the quarter ended 31 December 2014, ABP had 2.8 million participants and assets under management of €344 billion, making it the largest pension fund in the Netherlands and among the five largest pension funds in the world as at September 2016.

<span class="mw-page-title-main">Amundi</span> French asset management firm

Amundi is a French asset management company. With €2 trillion of assets under management (AUM) at the end of 2021, it is the largest asset manager in Europe and one of the 10 biggest investment managers in the world.

Environmental, social, and governance (ESG) is shorthand for an investing principle that prioritizes environmental issues, social issues, and corporate governance. Investing with ESG considerations is sometimes referred to as responsible investing or, in more proactive cases, impact investing.

<span class="mw-page-title-main">GCM Grosvenor</span> American alternative asset management firm

GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.

Azimut Holding is an independent, global group in the asset management, wealth management, investment banking and fintech space, serving private and corporate clients.

Responsible Research Pte Ltd is an independent Environmental Social and Corporate Governance (ESG) research firm for global institutional asset owners and asset managers. Based in Singapore, Responsible Research analyses the ESG factors and regulatory landscapes that increasingly threaten portfolio returns in Asian markets.

<span class="mw-page-title-main">Coronation Fund Managers</span> South African fund management company

Coronation Fund Managers is a South African third-party fund management company, headquartered in Cape Town. The company has locations in all South African major centers and offices in, Ireland, United Kingdom and in Namibia where it is represented by Namibia Asset Management a strategic partner. As of December 2019 the company had Assets under management of R578 billion.

<span class="mw-page-title-main">Sustainability Accounting Standards Board</span> Non-profit accounting standards organization

The Sustainability Accounting Standards Board (SASB) is a non-profit organization, founded in 2011 by Jean Rogers to develop sustainability accounting standards. Investors, lenders, insurance underwriters, and other providers of financial capital are increasingly attuned to the impact of environmental, social, and governance (ESG) factors on the financial performance of companies, driving the need for standardized reporting of ESG data. Just as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have established International Financial Reporting Standards and Generally Accepted Accounting Principles (GAAP), respectively, which are currently used in the financial statements, SASB's stated mission “is to establish industry-specific disclosure standards across ESG topics that facilitate communication between companies and investors about financially material, decision-useful information. Such information should be relevant, reliable and comparable across companies on a global basis.”

<span class="mw-page-title-main">MCI Capital</span>

MCI Capital SA - private equity fund listed on the Warsaw Stock Exchange established in 1999 by Tomasz Czechowicz with assets under management (AUM) of 2.8 billion PLN and permanent capital of 1.8 billion PLN [ca. 400 m Euro) as of December 31, 2021. According to Wall Street Journal MCI is one of Poland’s leading private equity companies.

Goldman Sachs Personal Financial Management (GSPFM) was a former division of Goldman Sachs responsible for wealth management of high-net-worth individuals. It had 74 offices in the United States and managed $25 billion in assets.

Naïm Abou-Jaoudé, born on 9 July 1966 in Jal-El-Dib (Lebanon), is the Chief Executive Officer (CEO) of New York Life Investment Management (NYLIM).

<span class="mw-page-title-main">DWS Group</span> German investment management firm

The DWS Group commonly referred to as DWS, is a German asset management company. It previously operated as part of Deutsche Bank until 2018 where it became a separate entity through an initial public offering on the Frankfurt Stock Exchange. It is currently headquartered in Frankfurt, Germany and is a constituent member of the SDAX index.

<i>Responsible Investment Brand Index</i> Scale to evaluate the European asset management industry

The Responsible Investment Brand Index (RIBI) is a scale to evaluate the global asset management industry on its ability to demonstrate its commitment to sustainable investment into their respective brands. The annual index was created in 2018 by Jean-Francois Hirschel and Markus Kramer.

References

  1. 1 2 "About NN Investment Partners" . Retrieved 2019-12-04.
  2. ↑ KennedyJune 2018, Liam. "Top 400 Asset Managers 2018: 10 years of asset growth". IPE.{{cite web}}: CS1 maint: numeric names: authors list (link)
  3. ↑ "Dutch asset manager tables 2018". Reference Hub.
  4. ↑ "NN Group and Goldman Sachs reach agreement on the sale of NN IP". 19 August 2021.
  5. ↑ "State aid: Commission approves ING restructuring plan and illiquid asset back-up facility". European Commission - European Commission. Retrieved 19 December 2019.
  6. ↑ Kharpal, Arjun (2014-07-02). "ING floats NN Group in Europe's biggest 2014 IPO". CNBC . Retrieved 2017-07-21.
  7. ↑ "ING Investment Management rebrands as NN Investment Partners". Citywire Global. Retrieved 2017-07-21.
  8. ↑ "Goldman Sachs Completes Acquisition of NN Investment Partners". Goldman Sachs. 11 April 2022. Retrieved 2022-04-11.
  9. ↑ "Responsible Investing Report 2018". NN Investment Partners. Retrieved 19 December 2019.
  10. 1 2 3 4 "NN Investment Partners integrates stringent ESG criteria in the large majority of its AuM" . Retrieved 2019-12-04.
  11. ↑ "Dutch investors Robeco, NN IP and Actiam speak out on sustainable palm oil". Duurzaam Financieel. 5 March 2019. Retrieved 19 December 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.