Goldman Sachs' asset management arm has secured a deal to manage $43.4 billion worth of pension fund assets of parcel giant UPS in North America, the investment bank said on Thursday. As part of the deal,

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 fiduciaries of United Parcel Service’s North American pension plans appointed Goldman Sachs Asset Management as OCIO for the Atlanta-based delivery company’s more than $40 billion in U.S. and Canadian defined benefit assets.