T. Rowe Price and Goldman Sachs Asset Management announced the launch of the T. Rowe Price Goldman Sachs Private Markets Fund, a new interval fund offering individual investors access to institutional-quality private market opportunities within a single professionally managed portfolio.
The fund combines T. Rowe Price’s Multi-Asset and Equity investment teams with GSAM’s global alternatives platform and the institutional private credit expertise of Oak Hill Advisors, T. Rowe Price’s private credit platform.
It is designed to address traditional barriers to private market access, including high investment minimums, high fees, and tax reporting complexity, through lower investment minimums, daily pricing, simplified 1099 tax reporting, and no investor accreditation requirement. Principal portfolio investments span private equity, private credit, private real estate, private infrastructure, and leveraged loans. The fund will be managed by a team including portfolio manager Vikram Natu, Som Priestley, head of global investment solutions for the Americas, and David DiPietro, head of private equity.
Share classes include TGPAX and TGPDX, each with a $2,500 minimum initial investment, and TGPIX, with a $1,000,000 minimum initial investment. Liquidity is managed through the fund’s interval structure, with quarterly repurchase offers typically covering up to 5 percent of outstanding shares, though up to 25 percent may be repurchased. The launch follows a strategic collaboration between the two firms announced in September 2025 and the introduction of model portfolios last December.
KEY QUOTES:
“T. Rowe Price Goldman Sachs Private Markets Fund delivers institutional-quality private markets exposure in a manner that’s readily accessible for financial advisors and their clients. It addresses the structural obstacles that have historically prevented investors from accessing private markets with a single fund that can serve as a complementary investment allocation in a wealth portfolio.”
Kevin Collins, Head of U.S. Intermediaries, T. Rowe Price
“This is another milestone in implementing our shared commitment to deliver innovative, outcome-oriented private market solutions for diversified wealth portfolios. Individual investors can now confidently access opportunities once reserved for institutions.”
Greg Wilson, Co-head Americas Third Party Wealth, Global Head of Retirement, Asset & Wealth Management, Goldman Sachs Asset Management
