Goldman Strikes $43 Billion Investing Deal for UPS Pension Funds

Goldman Sachs Group Inc. clinched a $43 billion mandate to invest pension fund assets of parcel-delivery company UPS, in one of the largest deals of its kind.

The investment mandate announced Thursday pushes Goldman, which manages some $325 billion of such pension assets, closer to its goal of surpassing rivals in the next three to five years. Those rivals include Marsh McLennan’s Mercer, BlackRock Inc. and Russell Investments.

The multitrillion-dollar global business of taking on investing responsibility for large pools of company pension money — known as outsourced chief investment office — or OCIO, is ...