NN Investment Partners

NN Investment Partners, commonly known as NN IP or NNIP, was a Netherlands-based asset management business headquartered in The Hague. It served institutional and wholesale investors across Europe, Asia and the Americas, with clients including pension funds, insurers, family offices, banks, independent financial advisers and private investors. It also managed assets for companies within the NN Group. The business began in 1994 as ING Investment Management, when its parent group was still part of ING Group, a combined banking and insurance organization. Its development was shaped by the restructuring of ING after the global financial crisis. ING was required to separate and divest insurance-related activities, leading to the creation and listing of NN Group as a distinct insurance and financial-services group. ING Investment Management adopted the NN Investment Partners name in 2015, aligning the asset-management operation with the newly established NN Group identity. NN IP operated as an active investment manager rather than a passive index provider. Its capabilities covered equities, fixed income, multi-asset portfolios and investment funds. The business offered investment solutions to professional investors as well as selected wholesale and private-investor channels. Its product architecture included the NN (L) fund range and mandates designed for institutions and other professional clients. The company also retained a relationship with NN Group as an internal and affiliated asset-management provider, while serving external investors internationally. Responsible investment was a central part of the brand's positioning. NN IP reported that environmental, social and governance factors were incorporated into the investment process for a substantial majority of its assets. Its approach combined ESG analysis, active ownership and engagement with companies whose practices could be improved. The company cited engagement in areas such as palm-oil production and joined the Roundtable on Sustainable Palm Oil in 2019. It also maintained exclusion policies covering selected activities regarded as materially harmful to society or the environment, including adult entertainment, Arctic drilling, fur and specialty leather, gambling, nuclear energy, shale oil and gas, and certain weapons-related activities. At 30 September 2019, NN IP reported approximately EUR 287 billion in assets under management. Of that amount, approximately EUR 176 billion was subject to ESG integration, while sustainable and impact-oriented strategies represented approximately EUR 17.4 billion and EUR 1.9 billion respectively. These figures describe the business before its sale and should not be treated as current assets under management. NN Group announced an agreement in August 2021 to sell NN Investment Partners to Goldman Sachs. The transaction, reported at approximately EUR 1.7 billion, was completed in 2022. After completion, the former NN IP business was incorporated into Goldman Sachs Asset Management. The legal entity NN Investment Partners B.V. ceased to exist on 6 March 2023. Accordingly, NN Investment Partners is best understood as a historical asset-management brand and former operating company rather than an active standalone manager.

NN Investment Partners originated in 1994 as ING Investment Management. At that time, the business formed part of ING Group, whose activities included banking, insurance and investment management. The asset manager developed investment capabilities for institutional and wholesale clients while also supporting the investment needs of the wider group. The global financial crisis and the subsequent restructuring of ING changed the company's corporate setting. ING was required to divest insurance activities and separate businesses that had previously operated within the broader financial conglomerate. NN Group emerged from the combination of ING's insurance and related activities and was listed on Euronext Amsterdam in 2014. The asset-management arm remained connected to the new group structure. In 2015, ING Investment Management was renamed NN Investment Partners. The rebrand placed the asset manager under the NN identity and distinguished it from the remaining ING-branded banking operations. Under NN IP, the company continued to operate as an active manager for institutional and wholesale investors in multiple regions. Its client base included pension funds, insurance companies, family offices, banks, financial advisers and private individuals, in addition to NN Group entities. The investment platform covered equities, fixed income, multi-asset portfolios and fund products. The company also developed sustainable and impact-oriented strategies. Responsible investment became an important component of its operating model. In 2019, NN IP published its first Responsible Investing Report and described the application of environmental, social and governance criteria to 67 percent of its assets under management. It combined ESG integration with shareholder engagement and, in selected areas, exclusionary policies. Its reported engagement work included dialogue with palm-oil companies, and the company joined the Roundtable on Sustainable Palm Oil in 2019. NN IP reported EUR 287 billion in assets under management as of 30 September 2019. It stated that ESG criteria were integrated across EUR 176 billion of assets, with EUR 17.4 billion in sustainable strategies and EUR 1.9 billion in impact strategies linked to positive contributions toward the United Nations Sustainable Development Goals. These are historical figures from the period before the acquisition by Goldman Sachs. On 19 August 2021, NN Group announced an agreement to sell NN Investment Partners to Goldman Sachs Group. The transaction was completed in 2022, with the purchase price reported at approximately EUR 1.7 billion. The acquired operations were transferred into Goldman Sachs Asset Management. On 6 March 2023, NN Investment Partners B.V. ceased to exist as a standalone legal entity and was incorporated into Goldman Sachs Asset Management. The NN Investment Partners brand therefore represents a former independent asset manager whose business and capabilities were absorbed into Goldman Sachs rather than a currently operating standalone company.

• 2023

  NN Investment Partners B.V. is incorporated into Goldman Sachs Asset Management

  [1]NN Investment Partnersen.wikipedia.org

  The former legal entity ceases to exist as a separate company on 6 March 2023.

• 2022

  Acquisition by Goldman Sachs is completed

  [1]NN Investment Partnersen.wikipedia.org

  Goldman Sachs completes the acquisition and begins integrating the business into Goldman Sachs Asset Management.

• 2021

  Sale to Goldman Sachs is announced

  [1]NN Investment Partnersen.wikipedia.org

  NN Group announces an agreement to sell NN Investment Partners to Goldman Sachs.

• 2019

  Responsible investment reporting is introduced

  [1]NN Investment Partnersen.wikipedia.org

  NN IP publishes its first Responsible Investing Report and describes ESG integration, engagement practices and exclusion policies.

• 2015

  ING Investment Management is rebranded as NN Investment Partners

  [1]NN Investment Partnersen.wikipedia.org

  The asset manager adopts the NN identity following the establishment of NN Group as a separate listed group.

• 2014

  NN Group is listed on Euronext Amsterdam

  [1]NN Investment Partnersen.wikipedia.org

  The corporate restructuring of ING's insurance-related activities leads to the formation and public listing of NN Group.

• 1994

  ING Investment Management is established

  [1]NN Investment Partnersen.wikipedia.org

  The asset-management business is created under the ING Investment Management name within ING Group.

Active, client-oriented asset management with a strong emphasis on responsible investment, ESG integration and long-term institutional relationships.

• Investment funds

  NN (L) fund range

  The NN (L) range was a branded investment-fund platform associated with NN Investment Partners. It provided pooled-investment vehicles across multiple asset classes and was intended primarily for institutional, wholesale and professional-investor distribution. The range reflected the firm's broader capabilities in equities, fixed income, multi-asset investing and responsible investment. Specific fund availability and ownership changed following the Goldman Sachs acquisition.

• Equities

  Equity strategies

  NN IP managed actively selected equity portfolios for institutional and wholesale investors. Strategies could be organized by geography, market segment or investment objective, with the firm's responsible-investment framework applying ESG analysis to a substantial portion of assets. The business used research and engagement as part of its active-management approach rather than presenting itself solely as a passive market-tracking provider.

• Fixed income

  Fixed-income strategies

  The fixed-income platform covered bond and other debt-market investment solutions for professional clients. These strategies formed one of the core asset classes offered by NN IP and could be delivered through funds or tailored institutional mandates. ESG integration and engagement were incorporated into applicable strategies, while exclusions were used for selected activities considered inconsistent with the firm's responsible-investment policies.

• Multi-asset investing

  Multi-asset strategies

  NN IP offered multi-asset solutions that combined exposure to different investment markets within a single portfolio. Such products were designed for investors seeking diversified allocations and professional portfolio management rather than a single-asset mandate. They formed part of the firm's wider range of investment solutions for pension funds, insurers, advisers, banks and other professional distribution channels.

• Responsible investment

  Sustainable and impact strategies

  These strategies sought to combine financial objectives with environmental or social considerations. NN IP reported sustainable-strategy assets of EUR 17.4 billion and impact-strategy assets of EUR 1.9 billion at 30 September 2019. Impact strategies were described as contributing positively to selected United Nations Sustainable Development Goals. The figures are historical and do not represent current NN IP assets.

• 2023

  Standalone NN IP legal entity is discontinuedStrategy

  Background

  Following the Goldman Sachs acquisition, the former NN IP business was reorganized within the acquirer's asset-management division.

  Action taken

  NN Investment Partners B.V. was incorporated into Goldman Sachs Asset Management on 6 March 2023.

  Aftermath

  NN Investment Partners ceased operating as a separate legal entity and became a historical brand associated with the acquired business.

  Source

• 2021

  NN Group agrees to sell NN Investment PartnersM&A

  Background

  NN Group announced the sale as part of the ownership transition of its asset-management operation.

  Action taken

  NN Group entered into an agreement to sell NN IP to Goldman Sachs Group, with the business intended for integration into Goldman Sachs Asset Management.

  Aftermath

  The transaction closed in 2022 and the former NN IP operations were subsequently integrated into Goldman Sachs Asset Management.

  Reported transaction value. EUR 1.7 billion (2022 acquisition)

  Source

1. 1NN Investment Partnersen.wikipedia.org
2. 2NN Investment Partners official websitennip.com