Goldman Sachs Fund Solutions (GSFS), a business within the group's securities division, is partnering with Amundi to manage Luxembourg-domiciled funds based on Goldman Sach’s proprietary systematic strategies.
The tie-up will see Goldman Sachs expand its Alt Ucits offering, with the team looking to significantly increase assets over the coming years through institutional investors and financial intermediaries.
Amundi Services will provide investment management, as well as ongoing control and oversight services to GSFS, which offers systematic strategies via alternative investment funds and Ucits platforms.
Amundi will also provide due diligence and monitoring services for Goldman Sachs’ Ucits platform, dedicated to external alternative fund managers. Investment management of the funds will be carried out by the structured products team at Amundi.
Commenting on the partnership, Amundi’s head of operations, services and technology division, Guillaume Lesage said: ‘The partnership is a testament to Amundi’s ambitions to develop world-class infrastructure services for institutional investors, asset managers and fund distributors.
‘The platform leverages Amundi’s strengths in technology, investment and regulatory know how, global reach and access to liquidity derived from its scale of assets under management - €1.4 trillion across all asset classes.’
Amundi currently acts as a management company for more than 300 Luxembourg sub funds with assets totalling €144 billion.
The GSFS team is not connected to Goldman Sachs Asset Management, which has a separate $60 billion Sicav range of Luxembourg funds.