Goldman Sachs 2012 Annual Report Download - page 17

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15Goldman Sachs 2012 Annual Report
Verizon focuses on a key part of their pension
portfolio, with help from Goldman Sachs.
As the Verizon Investment Management Corp. (VIMCO) focused on a key part of Verizon’s pension portfolio,
it turned to the Alternative Investments & Manager Selection (AIMS) Group within the Investment Management
business of Goldman Sachs to execute its long-term asset allocation strategy. At VIMCO, an almost $11 billion
private equity and real estate portfolio represented a significant portion of the pension plan’s total assets. Goldman
Sachs AIMS professionals helped Verizon evaluate the investments in their portfolio, forecast cash flows and
shape the program for the long-term benefit of the pension plan.
Goldman Sachs has been an investment manager for Verizon’s pension plans for many years, including corporate
relationships with predecessor companies GTE and Bell Atlantic. Our new mandate involves not only managing
assets, but also extends to active portfolio management responsibility across hundreds of private equity
investments. Through this engagement, Goldman Sachs will assist VIMCO in reshaping its private equity and
real estate portfolio, by leveraging Goldman Sachs’ expertise in structuring complex portfolios and helping
clients find the right avenues to achieve liquidity.
Because of the depth and breadth of the Goldman Sachs AIMS team, the firm has become a strategic advisor
in the private equity space — not just finding and recommending investment opportunities, but helping to reshape
private portfolios to meet specific, and sometimes very complex, needs.
Clockwise from top left:
Chris Kojima, Michael Moran
and Alec Stais, Suzanne
Gauron, Craig Russell
(all New York), Investment
Management Division