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

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โดย CNBC·Read original
Summary · why it matters

Goldman Sachs has won mandates to manage a combined $70 billion in retirement assets for Verizon Communications and Lockheed Martin. The deals include about $30 billion in pension assets for the two companies and $40 billion in Verizon defined-contribution retirement assets, typically 401(k)s. The mandates highlight how large employers are increasingly outsourcing retirement asset management to firms with expertise across public and private markets. Goldman's outsourced chief investment officer business had about $480 billion in assets as of March 31, while its broader asset and wealth management division oversees roughly $3.7 trillion.

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Financials▲ · 2 stocks
Goldman Sachs Group Inc
GS
▲ PositiveDemandrelevance

Won $70B in asset management mandates from Verizon and Lockheed Martin, growing its outsourced CIO business.

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