Goldman Sachs Asset Management announced its appointment by Eli Lilly and Company to provide investment management services for Eli Lilly and Company’s U.S. and Puerto Rico retirement plans. The mandate is approximately $25 billion and will cover defined benefit and defined contribution assets.

The decision reinforces Goldman Sachs Asset Management’s position as a leading provider of outsourced chief investment officer (“OCIO”) services globally, with nearly $450 billion in OCIO assets under supervision globally as of September 30, 2025. The appointment follows a comprehensive selection process by Lilly’s plan fiduciaries.

“Lilly’s commitment to providing comprehensive retirement benefits to its employees is impressive and we are honored to be selected as their partner,” said Tim Braude, co-head of Multi-Asset Solutions at Goldman Sachs Asset Management. “Our total portfolio solution allows our OCIO model to create flexible and customizable portfolios across asset allocation, portfolio construction and risk management on behalf of Lilly’s plans.”

“We are proud to continue offering market-leading retirement benefits and are excited to collaborate with Goldman Sachs Asset Management to deliver these vital programs for our employees and retirees,” said Eric Dozier, Executive Vice President and Chief People Officer at Lilly.

The mandate will leverage Goldman Sachs’ deep capabilities in risk management and in generating long-term sustainable returns for plan beneficiaries and participants through holistic portfolio management across public and private assets. Goldman Sachs Asset Management has a long track record in liability-driven investing and investing across public and private markets through an open architecture platform.

The transitions to Goldman Sachs Asset Management’s investment management services are expected to be completed in Q4 2025, designed to provide continuity of investment operations for participants.

Source: Goldman Sachs Asset Management