Goldman Sachs Asset Management said March 18 that it agreed to buy Standard & Poor’s investment advisory services from S&P Global Market Intelligence, a division of S&P Global. Financial terms weren’t announced. SPIAS provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels. It advised on more than $33 billion in assets across multi-asset, equity and fixed income strategies as of December 31, 2018.
NEW YORK, March 18, 2019 /PRNewswire/ — Goldman Sachs Asset Management (“GSAM”) announced today it has entered into an agreement to acquire Standard & Poor’s Investment Advisory Services (“SPIAS”) from S&P Global Market Intelligence, a division of S&P Global. The transaction is expected to close in the first half of 2019. Terms of the agreement were not disclosed.
SPIAS provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels globally. It advises on more than $33 billion in assets across multi-asset, equity and fixed income strategies as of December 31, 2018.
The acquisition will expand GSAM’s multi-asset offerings and rules-based equity strategies, positioning the firm to address the evolving needs of financial intermediaries and institutional clients. SPIAS manages multi-asset class model portfolios using Exchange Traded Funds (ETFs) and mutual funds, as well as equity portfolios produced employing a rules-based investment process.
“The firm is acquiring a compelling platform for growth and a differentiated team with a strong long-term track record of performance. The team’s expertise will allow us to deliver greater value to the financial intermediaries and institutions we serve,” said Timothy J. O’Neill and Eric S. Lane, co-heads of the Consumer and Investment Management Division at Goldman Sachs.
“S&P Global enabled us to grow our investment advisory business, and as our business continues to evolve, our focus on providing clients with solutions to more easily and efficiently manage their portfolios fits perfectly within GSAM,” said SPIAS president and chairman Michael Thompson. “We look forward to becoming part of one of the world’s leading asset managers, which will deliver additional resources to benefit our clients and address their changing needs.”
About Goldman Sachs Consumer and Investment Management Division
Goldman Sachs’ Consumer and Investment Management Division (CIMD) provides asset management and wealth management solutions to world-class institutions, high-net-worth individual investors and retail consumers globally. CIMD is one of the world’s leading investment managers, with over 700 investment professionals and more than 1,000 wealth advisors with over $1.5 trillion in assets under supervision across asset classes and strategies as of December 31, 2018.
About Standard & Poor’s Investment Advisory Services
Standard & Poor’s Investment Advisory Services LLC (“SPIAS”), is a wholly owned subsidiary of S&P Global Inc., and a part of S&P Global Market Intelligence. SPIAS provides non-discretionary advisory services to institutional clients and does not provide advice to underlying clients of the firms to which it provides advisory services.
About S&P Global
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. The Company’s divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 20,000 employees in 31 countries. For more information visit www.spglobal.com.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we know that not all information is important—some of it is vital. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuations and assess credit risk. Investment professionals, government agencies, corporations and universities globally can gain the intelligence essential to making business and financial decisions with conviction.
S&P Global Market Intelligence, a division of S&P Global (NYSE: SPGI), provides essential intelligence for individuals, companies and governments to make decisions with confidence.
For more information, visit www.spglobal.com.
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