Goldman Sachs and T. Rowe Price have announced a new partnership aimed at combining their strengths to offer a broader range of investment solutions. This collaboration is designed to cater specifically to the evolving needs of individuals planning for retirement and those managing wealth.
The partnership emphasizes accessing private markets, which can offer unique growth opportunities, to a diverse audience, including individual investors, financial advisors, plan sponsors, and plan participants. The goal is to develop a variety of offerings that help clients build and protect their wealth over time while planning for the future.
Additionally, a significant part of this collaboration is Goldman Sachs’s plan to invest in T. Rowe Price. The firm intends to acquire up to $1 billion worth of T. Rowe Price’s common stock through open-market purchases. This move demonstrates their confidence in T. Rowe Price’s capabilities and their commitment to working closely together to enhance their investment solutions.
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“This investment and collaboration represent our conviction in a shared legacy of success delivering results for investors. With Goldman Sachs’ decades of leadership innovating across public and private markets and T. Rowe Price’s expertise in active investing, clients can invest confidently in the new opportunities for retirement savings and wealth creation.”
David Solomon, Chairman and Chief Executive Officer of Goldman Sachs
“As a leader in retirement, we have a proven track record of using our expertise to drive solutions that help our clients confidently prepare for, save for, and live in retirement. 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 as part of their retirement and wealth management strategies.”
Rob Sharps, Chair, Chief Executive Officer and President of T. Rowe Price
“This strategic collaboration greatly enhances T. Rowe Price’s and OHA’s ability to deliver a wider range of investment strategies, focusing on accelerating innovation and creating new products to serve client needs. We welcome T. Rowe Price’s and Goldman Sachs’ commitment to deepen private market alternatives access to wealth and retirement clients. We view this collaboration as an important milestone in OHA’s growth with T. Rowe Price.”
Glenn August, Founder and Chief Executive Officer of OHA
