Goldman Wins $40 Billion Mandate for Shell Pension Assets (1)

Goldman Sachs Group Inc. won a $40 billion mandate from Shell Plc to oversee pension assets for the energy company, in one of the biggest outsourced deals of its kind.

Goldman Sachs Asset Management will oversee the pension money in Europe and assets for a captive insurer, as well as provide advice on North American pension plans, according to a statement Tuesday from Goldman.

The mandate, which was up for grabs in a competitive process, includes public and private assets, as well as liability-driven and cash-flow investments that are designed to help pensions meet their obligations. The assets are set ...