Deals
Lockheed Said to Mull Sale of $600 Million Asset Portfolio
- U.S. defense and security company wants to reduce PE exposure
- Move would be part of broader retirement-asset management
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Lockheed Martin Corp., the largest global defense company, is exploring a sale of $600 million in alternative assets to reduce exposure to private-equity funds, people with knowledge of the matter said.
The portfolio is held by the Lockheed Martin Investment Management Co., a subsidiary of Lockheed that manages employees’ post-retirement plans, said the people, who asked not to be identified because the information is private. Lockheed is working with an adviser and a deal may be completed by the end of the year, the people said.