Goldman Sachs, in a bid to capture a piece of the multi-trillion-dollar retirement and retail investing market, is planning to buy as much as $1 billion of stock in T Rowe Price, a global asset manager with $1.7 trillion of assets, two-thirds of which are retirement-related.
In a statement, the firms said that a “central focus” of the deal is to provide “a range of wealth and retirement offerings that incorporate access to private markets for individuals, financial advisors, plan sponsors and plan participants”.
