Goldman Sachs Group receives $43 billion in commissioncrashps1games, manages pension fund assets for United Parcel Services (UPS) and ranks first among similar transactions.
The investment authorization announced on Thursday means Goldman is closer to its goal of outperforming competitors in the next three to five yearscrashps1gamesOne step forward. Such pension funds managed by Goldman Sachs are approximately $325 billion. Its opponents include Marsh McLennan's Mercer, BlackRock and Russell Investments.
Consulting firm Cerulli Associates said the outsourcing Chief Investment Office (OCIO) business, which manages investments in corporate pensions, is expected to grow at a rate of more than 10% annually over the next five years. This means fund managers are viewing this area as a lucrative source of income.
"In a more complex regulatory, economic and market environment, companies look around to see what everyone else is doing and decide to focus on their core business," Tim Braude, global head of Goldman Sachs OCIO, said in an interview.