BENELUX/NORDIC/UK - Goldman acquires ABN AMRO portfolio

Fran
13 November 2008

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Goldman Sachs Asset Management has completed the acquisition of a portfolio of 20 buyout investments from ABN AMRO.

The Benelux, UK and Nordic investments, all made prior to October 2006, will continue to be solely managed by AAC Capital Partners, which was formerly the Northern European private equity arm of ABN AMRO that spun-out in late 2007. The Goldman Sachs Asset Management-led consortium and ABN AMRO have committed EUR 950 million to AAC's current investment programme, which includes 11 acquisitions completed since October 2006. The consortium includes AlpInvest Partners N.V, the Canada Pension Plan Investment Board (CPPIB) and Adams Street Partners. Other investors who will participate include a large US state pension fund, a family office and a large US-based insurance company.

Following the secondary transaction AAC is now fully independent. The firm's investment strategy will not change and it will continue to lead buyouts in its local markets (Benelux, the UK and Nordic region) within the EUR 50-500m range in the consumer, industrial and services sectors.