T. Rowe Price Partners with Aspida to Expand Insurance Reach, P&I Reports
- Editor
- Feb 4
- 2 min read
What's happening: Investment giant T. Rowe Price and its alternative credit arm Oak Hill Advisors have formed a strategic partnership with life insurance and annuity provider Aspida Holdings, according to Pensions & Investments.
Why it matters:
Strategy shift: This marks T. Rowe Price's deeper push into the insurance sector, expanding beyond traditional asset management
Market evolution: The partnership signals growing convergence between asset management and insurance sectors, as firms seek new growth avenues
Scale potential: Combined expertise could lead to innovative insurance-linked investment products for institutional clients
The key moves:
Asset management: T. Rowe Price and Oak Hill will manage portions of Aspida's public and private assets
Product development: Partners will collaborate on new investment solutions, though specific details remain undisclosed
Ownership: T. Rowe Price maintains its existing minority stake in Aspida
By the numbers:
Scale: T. Rowe Price manages $1.6 trillion in assets as of December 2023
Insurance assets: Aspida holds $19 billion in total assets
Specialist expertise: Oak Hill oversees $71 billion in credit strategies
Key players:
T. Rowe Price: Lead investment partner, bringing broad market expertise and substantial AUM
Oak Hill Advisors: Alternative credit specialist and T. Rowe subsidiary
Aspida Holdings: Insurance platform backed by Ares Management
Ares Management: Provides investment management and capital solutions through its insurance unit
Key quote:
Strategic vision: "We are excited about the potential of this strategic partnership with Aspida and its implications for our broader growth in insurance" - Rob Sharps, CEO of T. Rowe Price
The wrap: This partnership represents a significant strategic shift for T. Rowe Price, positioning the firm to capitalize on growing opportunities in the insurance sector while leveraging its investment expertise and Oak Hill's credit capabilities to develop new revenue streams.
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