Global law firm Freshfields advised longstanding client Goldman Sachs Asset Management on its appointment by various pension entities and a captive insurance company related to Shell Plc and its subsidiaries to manage a USD 40 billion mandate for international pension plan assets in Europe and advisory services in North America. 

 This appointment, following a competitive tender process, represents one of the largest ever multi-national Outsourced Chief Investment Officer mandates for Goldman Sachs.  The trustees of Shell’s pension plan will gain access to the global investment capabilities of Goldman Sachs through this appointment, which seeks to deliver performance and cost benefits for the asset pools through scale and efficiency. 

 The transition of the pension funds is expected to complete later in 2025. 

 The Freshfields team is led by partner Alexander Doorman with support from associate James Blyth (both Corporate, Amsterdam).  Partner Brechje Nollen advised on employment aspects and counsel Daphne van der Houwen advised on financial regulatory matters.