Goldman Sachs Secures $70 Billion in Retirement Mandates from Verizon and Lockheed Martin

In a major win for its institutional asset management arm, Goldman Sachs has landed $70 billion in retirement mandates from two corporate giants—Verizon and Lockheed Martin—signaling a strategic leap forward in the outsourced CIO space.

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Deal Breakdown: What’s on the Table

Goldman Sachs Asset Management (GSAM) has been awarded mandates to manage a combined $70 billion in retirement assets, split between Verizon Communications and Lockheed Martin. The arrangement includes approximately $30 billion in pension assets and $40 billion in Verizon’s defined‑contribution plans, marking one of the largest recent wins in the OCIO space . The contracts, announced in early July 2026, reflect corporations’ increasing tendency to outsource retirement asset management to specialized institutional investors, leveraging their scale and expertise for long-term financial stability.

Strategic Significance for Goldman Sachs

This win significantly bolsters Goldman Sachs’ institutional asset management credentials, particularly within the OCIO segment, a fast‑growing niche where firms manage corporate retirement portfolios on behalf of clients. By securing these mandates, GSAM cements its reputation as a trusted manager for complex, large-scale retirement assets, reinforcing its competitive positioning against peers in a market where scale and fiduciary reliability are paramount .