Charles Schwab has completed its acquisition of Forge Global Holdings, a platform that provides investors with access to shares of private companies before they go public. The deal expands Schwab’s capabilities in private markets and aims to broaden access to alternative investments for individual investors and registered investment advisors.
Forge operates a marketplace that enables eligible investors to buy and sell shares of pre-IPO companies through direct private share purchases as well as single-company and multi-company funds. By combining Forge’s private market infrastructure with Schwab’s brokerage and wealth management platform, the companies plan to create a more integrated experience across both public and private investments.
Schwab said the transaction strengthens its alternative investments offering while providing investors with expanded access, improved value, and greater transparency in private markets. The company intends to introduce Forge’s products and capabilities to more individual investors and advisors over time while continuing Forge’s existing relationships with issuers.
Integration work between the two organizations is already underway. Forge will continue operating its business as Schwab expands its reach and incorporates the platform into its broader investment ecosystem.
The acquisition was originally announced in November and valued Forge’s shares at $45 in cash per outstanding common share. The transaction received unanimous approval from the boards of directors of both companies.
Schwab, headquartered in Westlake, Texas, provides a broad range of financial services including brokerage, banking, asset management, and advisory services. The firm serves tens of millions of clients and manages trillions of dollars in client assets across its platform.
KEY QUOTES
“We believe helping more people participate directly in the growth of private companies is a meaningful opportunity for wealth creation and diversification, attractive to individual investors and the advisors who serve them. This acquisition helps us round out our alternative investments offer while bringing expanded access, better value, and increased transparency to the private markets, just as Schwab historically brought to the public market. We are honored to welcome Forge’s clients and talented team to Schwab and look forward to sharing more details on the integration and combined offer in the months ahead.”
Rick Wurster, President And Chief Executive Officer Of Charles Schwab
