Goldman Sachs Asset Management to acquire Dwight Asset Management from Old Mutual Asset Management

GSAM Increases Focus on Defined Contribution Business

New York, NY—February 7, 2012—Goldman Sachs Asset Management (“GSAM”) announced today that it will acquire Dwight Asset Management (“Dwight”), a Vermont-based stable value money manager, from Old Mutual Asset Management (“OMAM”).  The transaction represents a significant step in GSAM’s efforts to establish a leading position in the defined contribution (“DC”) investment-only business while reinforcing the importance of stable value as an investment option.

“GSAM’s acquisition of Dwight increases our already strong commitment to the defined contribution business and enables us to deliver more investment solutions to help DC plan participants preserve and grow their hard earned retirement savings,” said Eric S. Lane and Timothy J. O’Neill, co-heads of the Investment Management Division at Goldman Sachs.  “Many of our clients are focused on stable value as an important asset class for DC plans and Dwight has been an innovator in this space.”