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Investing.com -- Goldman Sachs and T. Rowe Price announced a strategic collaboration Thursday to deliver diversified public and private market solutions for retirement and wealth investors.
As part of the agreement, Goldman Sachs plans to invest up to $1 billion in T. Rowe Price common stock through open-market purchases, aiming to acquire up to 3.5 percent ownership.
"This investment and collaboration represent our conviction in a shared legacy of success delivering results for investors," said David Solomon, Chairman and CEO of Goldman Sachs.
Rob Sharps, Chair, CEO and President of T. Rowe Price, added, "We are excited to collaborate with Goldman Sachs—building on our broad capabilities across public and private markets to offer clients the ability to unlock the potential of private capital."
The partnership will focus on several key initiatives, including new co-branded target-date strategies that incorporate private market investments from both firms, scheduled to launch in mid-2026.
The firms will also create joint model portfolios featuring SMAs, direct indexing, ETFs, mutual funds, and private market vehicles designed for advisors serving mass-affluent and high-net-worth clients.
Additional collaborations include multi-asset offerings providing access to private equity, credit, and infrastructure in a single vehicle, as well as an innovative advisory platform for retirement accounts.
Glenn August, Founder and CEO of OHA, called the collaboration "an important milestone in OHA’s growth with T. Rowe Price."
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