Justification for other than full and open competition
Awarded Limited / Sole Source Justification Posted
- Solicitation number
- 16PBGC26P0009
- Set-aside
- No set-aside
Opportunity facts
- Contract number
- 16PBGC26P0009 Federal contract award
- NAICS code
- 523940 Portfolio Management and Investment Advice
- PSC
- R710 Support- Management: Financial
- Place of performance
- Washington, District of Columbia, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Pension Benefit Guaranty Corporation has awarded a sole-source contract to Goldman Sachs Asset Management, L.P. for fixed-income investment management services under contract 16PBGC26P0009 on September 25, 2026.
The justification cites 41 U.S.C. 3304(a)(1), asserting that Goldman Sachs is the only capable contractor because PBGC cannot competitively award a replacement contract before the current contract expires on September 30, 2026. The current contract with Goldman Sachs, in effect since March 30, 2016, was previously fully and openly competed. PBGC initiated competitive replacement planning in November 2024 but encountered delays from personnel changes, increased data calls, acquisition policy modifications, and solicitation reopening requirements. The competitive replacement is estimated for March 2027 award. This bridge contract provides continuity of active investment management across four Trust Fund strategies: Core Fixed Income, Long Duration Fixed Income, Global Fixed Income, and Emerging Markets Debt. The period of performance is six months with an optional three-month extension to enable minimum system coding and portfolio establishment overlap with broker-dealers before transition to a new contractor. The contract value is redacted. PBGC Procurement Department is procuring on behalf of the Corporate Investments Department. NAICS 523940 (Portfolio Management and Investment Advice); PSC R710 (Support—Management: Financial).
Notice text
This is a Justification for Other Than Full and Open Competition related to contract # 16PBGC26P0009 to Goldman Sachs Asset Management awarded on September 25, 2026.
For additional information please see attached Justification for Other Than Full and Open Competition.
Awarded contract 16PBGC26P0009 to unknown vendor for unknown amount on 2026-09-25.
Files
| File | Type | Posted |
|---|---|---|
| GSAM JOFOC Fully Executed.pdf |
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