Firmwide AUS increased $101 billion during the second quarter, including inflows of $305 billion from the April 11 acquisition of NN Investment Partners, Goldman noted in the release.
Firmwide AUS “covers AUS managed by GSAM, inclusive of third-party AUS managed by the asset management division as well as AUS managed for the firm’s wealth management clients,” a GSAM spokeswoman said by email.
Goldman Sachs’ asset management business reported net revenue of $1.08 billion in the second quarter, a 99% surge from the first quarter, but a 79% plunge from the second quarter of 2021, the release said.
Goldman Sachs said in the release that the year-over-year decline in revenues “reflected net losses in equity investments and significantly lower net revenues in lending and debt investments, partially offset by significantly higher management and other fees.”
