Goldman Sachs Asset Management, L.P. / Goldman Sachs Asset Management
Goldman Sachs Asset Management wins Verizon and Lockheed Martin OCIO mandates, reports say
Summary: CNBC reported that Goldman Sachs won a combined $70 billion in retirement-asset management deals with Verizon and Lockheed Martin. Chief Investment Officer separately reported that Goldman Sachs Asset Management L.P. was hired as outsourced CIO for the companies' retirement plans, with $30 billion in defined-benefit assets and $40 billion in defined-contribution assets.
Why it matters: The update may matter to due-diligence readers as a plan-governance, retirement-outsourcing, and OCIO mandate signal involving a large asset-management platform, while the source reporting does not establish mandate economics, plan quality, participant outcomes, performance, or investment merit.
Summary
CNBC reported that Goldman Sachs won a combined $70 billion in retirement-asset management deals with Verizon and Lockheed Martin. Chief Investment Officer separately reported that Goldman Sachs Asset Management L.P. was hired as outsourced CIO for the companies’ retirement plans.
The CIO article says the two companies will outsource a combined $30 billion in defined-benefit assets and $40 billion in defined-contribution assets, and says Goldman now manages a combined $480 billion in OCIO assets. Those mandate figures, OCIO role descriptions, and platform figures should remain attributed to the public reporting rather than treated as independent 9AT validation.
Why it matters
For due-diligence readers, the useful signal is that two large corporate plan sponsors are publicly reported to be outsourcing a substantial block of retirement-plan investment responsibility to GSAM. That can frame questions about OCIO selection, governance, asset-class complexity, sponsor oversight, and how large managers build recurring retirement-plan mandates.
The signal is bounded. The articles support the reported hiring and mandate size; they do not establish fee economics, sponsor satisfaction, participant outcomes, investment performance, fiduciary quality, plan health, or whether any particular investor should prefer GSAM or an OCIO model.
Source notes
- CNBC article: https://www.cnbc.com/2026/07/09/goldman-sachs-asset-management-deals-verizon-lockheed-martin.html
- Chief Investment Officer article: https://www.ai-cio.com/news/verizon-lockheed-martin-to-outsource-pensions-to-goldman-sachs-asset-management/
- Source posture: CNBC provides tier-1 media support for Goldman Sachs, Verizon, Lockheed Martin, and the combined $70 billion retirement-assets framing. Chief Investment Officer provides specialist retirement-plan/OCIO support for GSAM’s role, the DB/DC split, and the reported GSAM OCIO assets figure.
- Editorial caveat: do not use search-result snippets or inaccessible source pages as body support. Keep the mandate amount, outsourcing framing, OCIO role, DB/DC split, and GSAM OCIO asset figure attributed to the public sources.
9AT filing context
Public adviser-profile context identifies Goldman Sachs Asset Management, L.P. as a New York registered adviser tied to goldmansachs.com, with public SEC adviser identifiers including CIK 1958244 and CRD 107738. The data handoff reports broad adviser-platform scale of about $3.0 trillion in reported ADV AUM/profile context, about $691.6 billion in total private-fund GAV, 6,887 employees, 1,614 private funds, separately managed account activity, and a 2026-05-05 ADV submission date.
Public Form 5500 filings show that Verizon and Lockheed Martin each sponsor large retirement-plan and trust vehicles. Examples surfaced in the data handoff include Verizon filings such as Verizon Master Savings Trust and Verizon Savings Plan for Management Employees, and Lockheed Martin filings such as LMC Defined Contribution Master Trust and Lockheed Martin Corporation Salaried Savings Plan.
That Form 5500 context is broad plan-scale background only. It should not be used to map the reported $70 billion mandate mechanically to specific plan rows, to infer which exact plans are included, or to draw conclusions about mandate economics, sponsor satisfaction, plan quality, performance, participant outcomes, or investment suitability. No GSAM 13F holdings context is included for this article because the resolved adviser lookup did not return a useful 13F filing row in the analyst handoff.
What to watch
Watch for Goldman Sachs, Verizon, Lockheed Martin, plan filings, or sponsor-facing disclosures that clarify transition timing, exact plan coverage, mandate scope, governance responsibilities, asset-class coverage, and whether the arrangements alter future plan reporting. Also watch whether later public Form 5500 filings or sponsor statements add support for the mandate composition without assuming that today from broad plan-scale filings.