Core Insights - T. Rowe Price is collaborating with Goldman Sachs to offer private-market investments, indicating a strategic shift in response to the growing popularity of such assets [1][5] - Active stock pickers are facing challenges from index funds, which are gaining traction due to their lower fees and strong performance, particularly in the context of a rising S&P 500 [2][6] - The demand for target-date funds, which are popular among 401(k) savers, presents an opportunity for active managers to integrate private investments into their offerings [3][4] Group 1 - The rise of private-market investments is creating new opportunities for active managers, despite the competitive pressure from passive investment options [1][2] - Target-date funds are becoming increasingly popular, allowing for a blend of active and passive strategies, which could benefit from the inclusion of private investments [3][4] - The collaboration between T. Rowe Price and Goldman Sachs, including a $1 billion investment from Goldman Sachs into T. Rowe Price, signifies a merging of traditional and alternative asset management strategies [5] Group 2 - The focus on lowering fees among plan sponsors is critical, as many are shifting towards more cost-effective passive options for target-date funds [6] - The potential integration of private investments into target-date funds raises concerns about maintaining low overall costs, given that private investments often come with higher fees [7]