Goldman Sachs Investing $1 Billion in T. Rowe Price, Eyes 3.5% Ownership

The two firms said they will partner to design and distribute public- and private-market investment products.

Goldman Sachs (GS) announced on Thursday that it plans to invest as much as $1 billion in the T. Rowe Price Group (TROW), with the intention to build a stake of 3.5%, as part of a new strategic collaboration. The company said that it will do so “through a series of open-market purchases.”

The two firms said they will partner to design and distribute public- and private-market investment products tailored to wealth managers, retirement plans, and individual investors.

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