Goldman Sachs Asset Management (GSAM) announced it has entered into an agreement with Deutsche Asset & Wealth Management (DeAWM) to acquire DeAWM's stable value business, with total assets under supervision of $21.6 billion as of June 30, 2013.

The transaction represents the latest step by GSAM to grow its defined contribution franchise following last year's acquisition of Dwight Asset Management, a premier stable value asset manager based in Burlington, Vt.

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