April 23, 2015 / 5:39 PM / 2 years ago

Goldman Sachs Asset Management to buy Pacific Life business

A Goldman Sachs sign is seen over their kiosk on the floor of the New York Stock Exchange, April 26, 2010. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Goldman Sachs Group Inc’s (GS.N) Asset Management plans to acquire the Pacific Global Advisors solutions business from Pacific Life Insurance Co PACLIB.UL, the company said on Thursday.

The business provides investment and risk management services to institutional investors and has assets under supervision of more than $18 billion. Terms of the deal were not disclosed.

Reporting by Lauren Tara LaCapra; Editing by Grant McCool

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