On October 28, 2021, T. Rowe Price Group, Inc. announced that it will acquire Oak Hill Advisors, L.P.
Under the terms of the transaction, T. Rowe Price Group, Inc. (“T. Rowe”) will acquire Oak Hill Advisors, L.P. (“Oak Hill Advisors”). T. Rowe will acquire 100% of the equity of Oak Hill Advisors for approximately $4.2 billion. Oak Hill Advisors will serve as T Rowe’s private markets platform. Evercore served as financial advisor to T. Rowe and J.P. Morgan Securities LLC and M. Klein & Company served as financial advisors to Oak Hill Advisors. The deal is expected to close in the fourth quarter of 2021.
Rowe (NASDAQ: TROW), based in Baltimore, Maryland, is a global investment management organization providing mutual fund, account management, and subadvisory services for individual and institutional investors, financial intermediaries, and retirement plans. As of September 30, 2021, T. Rowe had approximately $1.61 trillion in assets under management.
Oak Hill Advisors, headquartered in New York, New York, is an alternate investment firm that offers special situations, private, distressed, structured credit, liquid, and real asset strategies. As of July 31, 2021, Oak Hill Advisors had approximately $53 billion in assets under management.
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