T. Rowe Price, OHA and Aspida Announce Partnership
T. Rowe Price Group, Inc., its alternative credit subsidiary Oak Hill Advisors (OHA), and life insurance and annuity company Aspida Holdings Ltd. are forming a partnership to support the growth of their respective businesses.
T. Rowe Price and OHA expect to manage certain Aspida public and private assets. In addition, T. Rowe Price, OHA, and Aspida will explore product development and other growth initiatives.
T. Rowe Price is an existing equity investor in Aspida, having previously taken a minority interest to support the long-term growth of the business.
“We are excited about the potential of this strategic partnership with Aspida and its implications for our broader growth in insurance,” said Rob Sharps, chair, CEO and president of T. Rowe Price. “The partnership highlights our continued commitment to the expansion of our insurance business and to delivering innovative investment opportunities for our clients with our customary high-touch service. We look forward to the opportunity to develop tailored solutions with Aspida and other insurance partners over time.”
“This announcement marks another significant step in our commitment to delivering exceptional financial security and service to our clients,” said Lou Hensley, chief executive officer and president of Aspida. “The deep investment and retirement market experience brought by T. Rowe Price and OHA, combined with the continued support of Ares, position us to develop even stronger, more innovative solutions, tailored to the needs of those we serve.”
