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Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin

Goldman Sachs secures $70 billion in outsourced investment mandates from Verizon and Lockheed Martin.

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The brief

Goldman Sachs has entered into agreements to manage $70 billion in assets for Verizon and Lockheed Martin. The deals involve the outsourcing of both defined benefit and defined contribution plan investments to the firm in its capacity as an outsourced chief investment officer (OCIO).

Coverage from CNBC, Reuters, GuruFocus, Pensions & Investments, and Plansponsor emphasizes the scale of the mandates. Reports detail that the arrangements specifically cover the transition of retirement plan asset management functions from the respective corporations to Goldman Sachs.

Future developments depend on the integration of these assets into the firm's portfolio management systems. Coverage does not yet specify a timeline for the transition or the exact scope of the administrative changes for plan participants.

Synthesized by PULSE from the headlines below under a strict no-invention contract. Updated 7h ago.

Quick answers

What is the total value of the deals?

The mandates total $70 billion in assets.

Which companies are involved?

Verizon and Lockheed Martin are outsourcing their investment management to Goldman Sachs.

What type of assets are being managed?

The deals involve defined benefit and defined contribution retirement plan investments.

Coverage (9)

Topics

Goldman Sachs Verizon Lockheed Martin Asset Management Finance

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