Goldman Wins $40 Billion Mandate for Shell Pension Assets

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.