T. Rowe Price Group, Inc. operates as one of the largest independent investment management firms in the world. Founded in Baltimore in 1937, the company manages over $1.6 trillion in assets for individuals, institutions, and retirement plan sponsors across 55 countries.
The firm pioneered the growth stock investing philosophy that shaped modern portfolio management. T. Rowe Price focuses on active management strategies, distinguishing itself from passive index fund competitors through fundamental research and disciplined investment processes.
You can find the company on the Nasdaq exchange under the ticker symbol TROW. It ranks among the Fortune 1000 largest U.S. companies and holds a position in the S&P 500 index.
T. Rowe Price History
T. Rowe Price Founder
T. Rowe Price Revenue
T. Rowe Price generated $7.09 billion in revenue during fiscal year 2024. This marked a 9.8% increase from the prior year. Investment advisory fees from assets under management drive the majority of the company’s income.
T. Rowe Price Market Cap
T. Rowe Price holds a market capitalization of approximately $22.7 billion as of December 2025. This places the company among the 1000 most valuable publicly traded firms globally. The stock trades on the Nasdaq under ticker TROW.
T. Rowe Price Acquisitions
T. Rowe Price has historically favored organic growth over acquisitions. The company takes a deliberate approach to expanding capabilities through targeted purchases that align with its long-term investment strategy.
The most significant acquisition came in December 2021 when T. Rowe Price completed its purchase of Oak Hill Advisors for $4.2 billion. OHA is a leading alternative credit manager with over $53 billion in capital under management. The deal included $3.3 billion paid at closing and up to $900 million in milestone payments. This acquisition expanded T. Rowe Price into private credit markets and strengthened its alternatives platform.
In 1999, T. Rowe Price acquired full ownership of Rowe Price-Fleming International. The company had formed this joint venture with British asset manager Robert Fleming & Co. in 1979. At its peak, the venture managed $39 billion in international assets. The buyout allowed T. Rowe Price to consolidate its global investment operations.
The firm acquired mutual funds from USF&G during the 1990s as part of its expansion. T. Rowe Price also established partnerships rather than outright acquisitions in key markets. A joint venture with Sumitomo Bank and Daiwa Securities in Tokyo launched in 1999 to serve Japanese institutional clients.
In September 2025, T. Rowe Price and Goldman Sachs announced a strategic collaboration to deliver public-private investment solutions. The partnership combines T. Rowe Price’s active management with Goldman’s distribution reach. This approach reflects the company’s preference for alliances over traditional acquisitions when expanding into new markets.
T. Rowe Price Competitors
T. Rowe Price competes with major asset management firms across mutual funds, ETFs, and retirement services. The company differentiates itself through active management in a market dominated by passive index investing. Its target-date retirement funds compete directly with offerings from Vanguard and Fidelity.
| Company | Headquarters | Primary Focus |
|---|---|---|
| Vanguard Group | Pennsylvania, USA | Index Funds, ETFs |
| Fidelity Investments | Massachusetts, USA | Mutual Funds, Brokerage |
| BlackRock | New York, USA | ETFs, Asset Management |
| Charles Schwab | Texas, USA | Brokerage, Wealth Management |
| Franklin Templeton | California, USA | Active Management |
| Invesco | Georgia, USA | ETFs, Mutual Funds |
| Morgan Stanley | New York, USA | Wealth Management |
| State Street | Massachusetts, USA | Index Funds, Custody |
| AllianceBernstein | Tennessee, USA | Active Management |
| Janus Henderson | London, UK | Active Management |
FAQs
When was T. Rowe Price founded?
Thomas Rowe Price Jr. founded T. Rowe Price & Associates in Baltimore, Maryland in 1937. The firm pioneered the growth stock investing philosophy.
How much does T. Rowe Price manage?
T. Rowe Price manages approximately $1.61 trillion in assets under management as of December 2024. This includes equities, fixed income, and multi-asset portfolios.
Is T. Rowe Price publicly traded?
Yes, T. Rowe Price trades on the Nasdaq stock exchange under the ticker symbol TROW. The company went public in 1986 and joined the S&P 500 in 1999.
Where is T. Rowe Price headquartered?
T. Rowe Price is headquartered at 100 East Pratt Street in Baltimore, Maryland. The firm operates 17 international offices serving clients in 55 countries.
What is T. Rowe Price known for?
T. Rowe Price is known for active investment management and target-date retirement funds. The company focuses on fundamental research and growth stock investing strategies.