Goldman Sachs in Acquisition of Dwight Asset Management

Cleary Gottlieb is representing Goldman Sachs Asset Management, the asset management arm of Goldman Sachs, in its acquisition of Dwight Asset Management Company, a stable-value money manager, from Old Mutual Asset Management. The transaction was announced on February 7 and is expected to close in the second quarter.

Dwight, based in Burlington, Vermont, is an institutional fixed income asset manager that specializes in stable-value funds for employee benefits plans, with approximately $42 billion in assets under management as of December 31.