U.S. investment bank Goldman Sachs is muscling into the lending market for private equity and asset managers, planning an overseas expansion as it helps fill a void left by turmoil at regional banks and the sale of Credit Suisse.

The top executives at Goldman Sachs Group Inc. are among Wall Street titans that grew up in the world of leveraged finance. When asked what’s changed the most, it’s “undoubtedly, private credit,” said John Waldron.

The UPS employees will work out of Goldman’s Atlanta office, which is where the investment team, led by CIO Ernie Caballero, is located.

U.S. parcel delivery giant UPS has enlisted the asset management arm of Wall Street titan Goldman Sachs to manage its $43.4 billion pension fund assets in the United States and Canada, the investment bank said on Thursday.

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.

Goldman Sachs (NYSE:GS) secured a $43B mandate to invest United Parcel Service's (NYSE:UPS) pension fund assets, according to a media report dated Thursday. Managing about $325B of pension assets, Goldman (GS) and other money-management firms see the so-called outsourced chief investment office ("OCIO") space as a lucrative revenue stream,