Goldman Sachs Asset Management has been appointed by various Shell pension funds and a related captive insurance company to manage a US$40 billion mandate covering international pension plan assets in Europe and advisory services for North American pension plans.
The award, following a competitive tender overseen by Isio, represents one of the largest multi-national outsourced chief investment officer (OCIO) mandates to date.
Each Shell pension entity set its own objectives and selection criteria, meeting potential candidates locally before finalising individual appointments.
The mandate gives Shell pension trustees access to Goldman Sachs’ global investment capabilities across public and private markets.
Services will be tailored to the differing needs of the asset pools, with the aim of delivering performance and cost benefits through greater scale and efficiency. Transitions are expected to complete later in 2025.
Marc Nachmann, global head of asset and wealth management at Goldman Sachs, says: “Pension funds, insurers and other asset owners increasingly want differentiated alpha, holistic total portfolio advice and customised portfolio solutions. We are proud that Shell’s pension fund trustees across several countries have chosen to partner with us to deliver the full capabilities of Goldman Sachs for their members.”
Chloe Kipling, co-head of EMEA institutional client coverage at Goldman Sachs Asset Management, adds: “Our approach to OCIO services is underpinned by extensive risk management experience and driven by a focus on building strong client partnerships. We look forward to implementing bespoke solutions that seek to manage risk, generate cashflow and deliver sustainable returns on behalf of members of the Shell international plans.”
Source: captiveinsurancetimes.com
