Goldman Sachs and T. Rowe Price Launch First Interval Fund Accessible to Retail Investors
Goldman Sachs Group Inc. (GS) and T. Rowe Price Group Inc. (TROW) have introduced their first interval fund aimed at retail investors, marking a significant step in making private market investments more accessible. The new product, the T. Rowe Price Goldman Sachs Private Markets Fund, requires only $2,500 to invest and does not require accreditation. The fund will allocate across four alternative asset classes: private equity, infrastructure, real estate, liquid assets with late-stage venture capital, and private credit via Oak Hill Advisors. This collaboration aims to leverage T. Rowe’s trusted brand among retail investors while Goldman provides access to its private market expertise. The two firms have previously partnered on model portfolios for wealth management. The launch comes amid a challenging period in the private credit sector following redemption waves that forced many funds to restrict withdrawals and abandon 'semi-liquid' marketing language. This new interval fund will offer periodic liquidity opportunities, though it is described as illiquid due to potential repurchase limits of up to 25%.
Topics: alternative assets Goldman Sachs private markets retail investors T. Rowe Price