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Goldman Sachs Asset Management Sued By Dutch Pension Fund
Max Skjönsberg
9 July 2012
Pensioenfonds Vervoer, the Dutch €13 billion ($16 billion) pension fund, has filed a legal claim against
Goldman Sachs Asset Management in London, suing the Wall Street titan for €250 million. The legal action against Goldman Sachs, Vervoer's fiduciary manager between 2006 and 2010, is related to alleged wrongdoings between 2008 and 2009. Speaking to this publication, Walter Brand, chief executive of Vervoer, did not wish to make prejudicial comments about the case, but said that it was not connected to fraud but simply how the US firm "handled things". “We acted prudently and complied with our mandate, fulfilling our obligations to our client," Goldman Sachs said in a statement. "We have not yet seen a claim but believe one would be without merit based on the facts of the situation, and we would certainly contest it.” The claim was filed to the High Court in London at the end of last week.