Goldman Sachs, T. Rowe Price to offer alternative investments for wealthy clients by 2025-end

[Goldman Sachs Expected To Cut Hundreds Of Jobs This Month]
Michael M. Santiago/Getty Images News

Goldman Sachs (NYSE:GS [https://seekingalpha.com/symbol/GS]) and T. Rowe Price (NASDAQ:TROW [https://seekingalpha.com/symbol/TROW]) plan to offer new alternative investments for wealthy clients by 2025-end and for retirement accounts in 2026, Reuters reported [https://www.reuters.com/business/finance/goldman-t-rowe-sell-alternative-investments-wealthy-by-year-end-retirement-2025-09-15/], citing executives.

The news comes as Goldman Sachs said [https://seekingalpha.com/news/4492211-t-rowe-price-stock-climbs-as-goldman-sachs-plans-to-take-1b-stake] earlier this month that it plans to acquire up to $1B in the asset manager's common stock, equaling a stake of up to 3.5% in TROW, as part of a collaboration agreement.

The alliance was set to focus on offering public and private market investment products for retirement and wealth investors.

"It's reasonable to expect that we can target having all of the different products in market by mid-2026," T. Rowe CEO Rob Sharps reportedly told Reuters.

The products will begin to be offered to Goldman and T. Rowe clients, but may be distributed more widely, according to Reuters.

Last month, U.S. President Donald Trump signed an executive order [https://seekingalpha.com/news/4481730-trump-signs-executive-order-to-enable-crypto-private-equity-in-401k-investments] allowing private equity, cryptocurrency, and other alternative assets in 401(k) investments.

The order directs the Secretary of Labor to reassess the Labor Department's guidance [https://seekingalpha.com/news/4481181-trump-expected-to-sign-order-on-private-assets-in-401-k-s-report] on a fiduciary’s duties associated with alternative asset investments in defined-contribution plans, according to a fact sheet released by the White House.

MORE ON GOLDMAN SACHS, T. ROWE PRICE

* T. Rowe Price: Private-Public Market Bridge May Restore Competitive Moat [https://seekingalpha.com/article/4821172-t-rowe-price-private-public-market-bridge-may-restore-competitive-moat]
* The Goldman Sachs Group, Inc. (GS) Presents At Barclays 23rd Annual Global Financial Services Conference Transcript [https://seekingalpha.com/article/4820739-the-goldman-sachs-group-inc-gs-presents-at-barclays-23rd-annual-global-financial-services]
* Goldman Sachs: The Big Bank You Want To Buy [https://seekingalpha.com/article/4819256-goldman-sachs-the-big-bank-you-want-to-buy]
* T. Rowe Price partners with World Bank member to launch investment strategy for corporate blue bond market [https://seekingalpha.com/news/4494917-t-rowe-price-partners-with-world-bank-member-to-launch-investment-strategy-for-corporate-blue-bond-market]
* T. Rowe Price sees higher AUM as of August end [https://seekingalpha.com/news/4494107-t-rowe-price-sees-higher-aum-as-of-august-end]