Goldman Sachs Asset Management Secures $70 Billion in Retirement Asset Mandates from Verizon Communications and Lockheed Martin
NEW YORK – July 9, 2026 – Goldman Sachs Asset Management (“Goldman Sachs”) today announced its appointment as Outsourced Chief Investment Officer (“OCIO”) by Verizon Communications and Lockheed Martin to provide investment management services for their respective retirement plan assets.
Goldman Sachs Asset Management’s engagements collectively relate to over $70 billion in assets, with $30 billion in defined benefit (“DB”) OCIO assets under management (“AUM”) for Verizon and Lockheed Martin and $40 billion in defined contribution (“DC”) assets under advisement (“AUA”) for Verizon.
The appointments reflect the broader industry trend of large corporate pension sponsors partnering with an OCIO provider to streamline oversight of managing complex portfolios across public and private markets. The appointments reinforce Goldman Sachs Asset Management’s position as a leading provider of OCIO services globally, with $480 billion in OCIO assets under supervision (AUS) globally as of 3/31/2026.
“Large plan sponsors are consolidating responsibilities with one partner with the investment expertise and depth of platform to manage their bespoke needs. We believe these mandates affirm our ability to deliver customized public and private market investment solutions for the world’s largest retirement plans, supported by continually evolving technology, deep experience and specifically designed infrastructure. We thank Verizon and Lockheed Martin for their trust in us,” said Marc Nachmann, Global Head of Asset and Wealth Management at Goldman Sachs.
Goldman Sachs Asset Management will work in close partnership with the plans’ fiduciaries to deliver a customized solution to help meet the needs of their respective beneficiaries.
Goldman Sachs Asset Management will draw on its global investment capabilities and a customized technology solution designed specifically for retirement plan management. The firm’s open‑architecture platform allows for flexible portfolio construction across asset classes, managers, and strategies, while maintaining a strong focus on risk management and delivering a custom liability hedging program. When paired with real-time, executive level analytics and transparency, we believe this approach supports robust governance and provides clear visibility into how implementation is tracking against strategic objectives.
About Goldman Sachs Asset Management
Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives and multi-asset solutions. Goldman Sachs oversees approximately $3.7 trillion in assets under supervision as of March 31, 2026.
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Goldman Sachs Media Relations
Mary Athridge
+1 212 902 5400
mary.athridge@gs.com