Goldman Sachs Asset Management, one of the world's leading investment managers, acquired the investment advisory unit of Standard & Poor's, an American financial services company. The unit provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels globally. It has approximately $33bn in assets under supervision across multi-asset, equity and fixed income strategies as of December 31, 2018. Terms of the agreement were not disclosed. "The firm is acquiring a compelling platform for growth and a differentiated team with a long-track record of performance. The team's expertise will allow us to deliver greater value to the financial intermediaries and institutions we serve," said Timothy J. O'Neill and Eric S. Lane, co-heads of the Consumer and Investment Management Division at Goldman Sachs.