October 22, 2017 10:15 AM ET

Capital Markets

Company Overview of T. Rowe Price Associates, Inc.

Company Overview

T. Rowe Price Associates, Inc. is a privately owned investment manager. The firm provides its services to high net worth individuals, banking and thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, corporations and other businesses, state and municipal government entities, other investment advisers, trusts, endowments, foundations, institutions, insurance companies, and non-U.S. collective investment funds. It manages separate client-focused equity, balanced, and fixed income portfolios. The firm launches and manages equity, fixed income, and balanced mutual funds for its clients. It also launches and manages equi...

100 East Pratt Street

Baltimore, MD 21202

United States

Founded in 1937

Phone:

410-345-2000

Fax:

410-345-6575

Key Executives for T. Rowe Price Associates, Inc.

President and Director
Age: 63
Chief Investment Officer, Vice President, Portfolio Manager, and Director
Age: 62
Chief Compliance Officer and Vice President
Age: 56
Vice President, Chief Legal Officer, and Secretary
Age: 50
Vice President, Chief Risk Officer and Portfolio Manager
Compensation as of Fiscal Year 2017.

T. Rowe Price Associates, Inc. Key Developments

UTI Mutual Fund Mulls IPO In Second Half Of 2017

UTI Mutual Fund is seeking funding and acquisitions. UTI Mutual Fund is on course to go public with an initial share sale in the second half of the 2017 with a valuation of over $1 billion and is also looking at inorganic growth. The IPO will allow partial exit for UTI Mutual Fund’s oldest four sponsors including State Bank of India (NSEI:SBIN), Life Insurance Corporation of India, Bank of Baroda (BSE:532134) and Punjab National Bank (BSE:532461) which own 18.5% each in it, while the remaining 26% is held by T. Rowe Price Associates, Inc. Leo Puri, Managing Director of UTI Mutual Fund, said, "We continue to believe IPO will happen in the second half of 2017. We are awaiting Government go-ahead. Once that is in, we''ll appoint merchant bankers and seek Sebi nod. We are yet to go in for valuation as it will be discovered by the market. But we are sure of our valuation topping $1 billion. But the exact valuation will be determined as we go to the market for price discovery. The MF market is at an inflection point and we are keen to utilise the opportunity for faster growth. After the IPO we will be looking at inorganic growth. In fact, we hope to utilise a good portion of the IPO proceeds to faster growth, which could be driven by acquisition.

Dell Inc. Agrees to Pay $25 Million to Settle Lawsuit Related to Tech Giant's 2013 Leveraged Buyout

Dell Inc. has agreed to pay a major shareholder $25 million to settle a lawsuit related to the tech giant's 2013 leveraged buyout. The amount is just a fraction of what T. Rowe Price Associates Inc. stood to collect if it didn't inadvertently approve the buyout. T. Rowe Price Associates is an affiliate of T. Rowe Price Group Inc. Baltimore-based T. Rowe Price, was ruled ineligible for the appraisal process that later determined Dell shareholders were underpaid in the buyout by nearly $4 per share. T. Rowe Price would have collected $200 million in the appraisal process if it didn't mistakenly approve the $24.9 billion buyout.

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