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.
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