Goldman Sachs Wins $70 Billion Retirement Assets Management Deal for Verizon and Lockheed Martin
Goldman Sachs has secured a major contract to manage approximately $70 billion in retirement assets, including pension funds and 401(k) plans, from two large corporations: Verizon Communications (VZ) and Lockheed Martin Corporation (LMT). This reflects an industry trend where companies are increasingly outsourcing their investment management due to the complexity of managing alternative assets. Goldman's OCIO business now oversees around $480 billion in total assets.
Topics: 401(k) plans Goldman Sachs outsourced investment management pension funds