07:28 AM EDT, 09/09/2025 (MT Newswires) -- Goldman Sachs' ( GS ) asset-management business said Tuesday that it has been selected by several pension funds and a captive insurance company belonging to Shell (SHEL) to manage a $40 billion mandate for international pension plan assets in Europe and offer advisory services for pension plans in North America.

The deal followed a competitive process overseen by consultancy Isio, the company said.

Shell pension plan trustees will have access to Goldman Sachs' ( GS ) global investment platform across public and private markets, the bank said.

The transitions are expected to be completed later this year, Goldman said.

The agreement covers pension pools in the UK and Germany, the bank said.