Goldman Sachs AM Wins $40bn Shell Pension Mandate in Major OCIO Deal

Goldman Sachs Asset Management has secured a landmark $40 billion mandate to manage international pension assets for Shell Plc across Europe, while providing advisory services for North American plans. The win represents one of the largest multinational outsourced CIO appointments in institutional history.

The competitive tender process, overseen by consultancy Isio, saw individual Shell pension funds set bespoke objectives before selecting Goldman's global investment platform. The asset manager will leverage its $3 trillion AUM scale to deliver cost efficiencies across public and private markets.

This institutional endorsement signals growing acceptance of comprehensive outsourced solutions among corporate pension schemes. Goldman's victory over competing asset managers reflects its deepening capabilities in cross-border pension management at a time when yield generation remains challenging for legacy portfolios.