MutualFundWire.com: Will Lane and O'Neill's Latest Deal Impact GSAM's Mutual Funds?

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Thursday, July 16, 2015

Will Lane and O'Neill's Latest Deal Impact GSAM's Mutual Funds?

Eric Lane and Tim O'Neill are making another acquisition, and it's not yet clear what the deal means for the mutual fund side of their business.

Eric S. Lane
Goldman Sachs
Global Co-Head of the Investment Management Division

This week Lane and O'Neill confirmed that Goldman Sachs Asset Management [profile] has agreed to buy San Francisco-based Imprint Capital [profile], an eight-year-old, 17-employee institutional asset manager that works with more than 40 clients and has $550 million in AUM as of March 31. Imprint's clients include financial institutions and families, as well as "10 of the 25 largest US foundations." It does not appear to do any work in the mutual fund industry.

Timothy J. O'Neill
Goldman Sachs
Global Co-Head of the Investment Management Division

Michael Moore of Bloomberg reported on the news.

Imprint specializes in "impact investing," which GSAM describes as "developing investment solutions that generate measurable environmental, social, and effective governance ('ESG') impact alongside a financial return." Lane and O'Neill describe the deal as affirming GSAM's "strong commitment to ESG and impact investing."

Imprint co-founders John Goldstein and Taylor Jordan and the rest of the Imprint team will join GSAM, keeping Imprint's headquarters in San Francisco while also having a presence in New York (where Goldman is based). The pricing and terms of the deal, which GSAM expects to close within "the next few months," were not disclosed.

William McCalpin, Imprint's CEO, "will be transitioning."

Printed from: MFWire.com/story.asp?s=52203

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