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 91d 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)
- Verizon CIO retires amid transition to Goldman Sachs outsourced investment model Markets Group · 91d ago
- Goldman Sachs Adds Corporate Pension OCIO Clients FIN News · 91d ago
- Goldman Sachs Asset Management Secures $70 Bln In Retirement Asset Mandates TradingView · 91d ago
- Goldman Sachs wins $70 billion retirement asset management deals qz.com · 91d ago
- Goldman Sachs Expands Asset Management with Verizon and Lockheed Martin GuruFocus · 91d ago
- Goldman Sachs wins $70 billion retirement asset management deals qz.com · 91d ago
- Lockheed Martin, Verizon to Outsource DB and DC Investments to Goldman Sachs plansponsor · 91d ago
- Goldman Sachs notches two OCIO mandate wins totaling $70 billion Pensions & Investments · 91d ago
- Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin CNBC · 91d ago
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