Goldman Sachs Asset Management (GSAM) is to acquire Standard & Poor’s Investment Advisory Services (SPIAS) from S&P Global Market Intelligence, a division of S&P Global. Terms of the the transaction, which is expected to close in the first half of 2019, have not been disclosed.
SPIAS provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels globally. It advises on more than USD33 billion in assets across multi-asset, equity and fixed income strategies as of 31 December, 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,” says 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,” says 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.”
