NN Investment Partners

Last updated
NN Investment Partners
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 became 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

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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.
  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" . 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. 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.