These firms are being recognized for providing exceptional strategies for clients and being leaders in the institutional investing market.

Goldman Sachs Asset Management Winner

Goldman Sachs Asset Management offers tailored, market-based liability-driven investing solutions, acting as a strategic partner in de-risking, glide path design, and asset allocation.

“We leverage technology and specialized experts—including fixed-income portfolio managers, former actuaries as liability strategists, and risk managers—to deliver innovation and thought leadership,” says Matthew Maciaszek, Goldman Sachs’ head of LDI.

According to Maciaszek, GSAM’s differentiators include:

• Customized liability modeling for precise hedging of interest rate, curve and credit spread risk;
• A deeply market-immersed fixed-income portfolio management team;
• Extensive risk management systems breaking down portfolio risks into more than 800 factors for precise monitoring; and
• An experienced global team providing comprehensive LDI advice and implementation, from glide path development to risk transfer.

GSAM’s alpha-driven LDI strategies have demonstrated consistent outperformance. Per eVestment, its long credit strategy has outperformed more than 80% of peers over the past three years.

In spring 2025, GSAM’s fixed-income team merged its pension/LDI and insurance platforms into a fixed-income institutional solutions team. While maintaining specific portfolio manager specialization across pension and insurance clients, this combined team manages more than $500 billion in assets for more than 400 global clients.

“Given both client sets’ focus on liability matching and optimizing risk-adjusted returns, innovations from one sector often migrate to the other,” says Maciaszek. “This integrated approach leverages combined expertise, dealer engagement and overlapping client objectives to drive innovative solutions.”

GSAM developed an array of commingled vehicles designed to target different segments of corporate and government yield curves, including offerings in the U.S., Canada and Europe.

“We provide our clients comparable offerings, performance and hedging efficacy, regardless of whether they sponsor a $50 million plan or a $50 billion plan,” Maciaszek says.

GSAM also invested in a trade optimization process, reducing tracking error across more than 100 custom-benchmarked accounts. In addition, the firm boasts a 99% hedge effectiveness across its custom LDI mandates.

Finally, GSAM reduced funded status volatility by building out interpolated key rate duration nodes to 50 years, with its dedicated team of five quantitative pension strategists analyzing decades of interest rate curve movements to build this capability.

“Our firm’s philosophy prioritizes clients’ interests above all, codified in our business principle: ‘Our clients’ interests always come first,’” Maciaszek says. “In LDI management, this means prioritizing partnership, consistently advising on balancing outperformance and reduced funded status volatility, and providing timely, transparent reporting.”

Finalists

• Capital Group
• L&G – Asset Management, America
• NISA
• Wellington Management