Goldman CEO says T. Rowe deal gives investors access to retirement products

By Saeed Azhar

CEO David Solomon said on Monday, New York (Reuters) -Goldman Sachs’ asset manager T. Rowe Price’s “small investment” up to $ 1 billion, aims to provide wider access to special markets.

Solomon explained the logic of the investment announced last week, including partnerships to offer special market products to retail investors.

“This is related to our partners in retirement and other fields to provide investors to access to very unique products,” Solomon told investors at a conference in New York. He said. “When you think of alternatives in a broad way, we are still in the first Inning of the secular growth of alternatives and the participation of investors in these products.”

Solomon reiterated that Goldman could look at an agreement under the management of assets or reserves to accelerate growth, but the bar “very high” for such a process.

The Bank sees a turntable in strategic merger and purchases, but said that the activity from financial sponsors is relatively quiet.

Solomon also said that the policy rate of the Federal Reserve was not “extraordinary restrictive” to determine the risk appetite.

Goldman, who is at the top for the merger and inheritances of the world, benefited from a revival in agreements supporting the second quarter profit.

Global merger and acquisition have reached 2.6 trillion dollars for the first seven months of the year since the peak of 2021 Pandemic Period. Corporate boards are looking for growth and optimism about an artificial intelligence boom balanced the uncertainty on US tariffs.

(Reporting by Saeed Azhar;