10/28, 1:57 PM (Source: TeleTrader)
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T. Rowe Price acquires Oak Hill Advisors in $4.2B deal

T. Rowe Price announced in a statement on Thursday it reached a definitive agreement to acquire alternative investment firm Oak Hill Advisors (OHA).

According to the terms of the deal, T. Rowe Price will acquire 100% of the equity of OHA for a purchase price of around $4.2 billion. Price intends to make OHA its private markets platform, in an effort to further expand into alternative investment markets.

"We share a vision with OHA's seasoned management team to build a broader business in private markets by combining their specialty in alternative credit with our global scale," T. Rowe Price President Rob Sharps said in the statement which emphasized the companies' shared focus on "investment excellence, integrity, collaborative culture, and client partnership."

Breaking the News / TT