T. Rowe Price Goldman Sachs Retirement Blend Plus Trusts
Unlocking private assets to help meet retirement needs
With access to the growth and diversification potential of private markets—including private equity, private credit, and private infrastructure—alongside public market strategies, Retirement Blend Plus Trusts are designed to build resilient portfolios and improve retirement outcomes for investors.
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Combining T. Rowe Price’s long-standing retirement expertise with Oak Hill Advisors’ (OHA) direct credit experience and Goldman Sachs Asset Management’s private market capabilities, Retirement Blend Plus Trusts deliver public and private market investments in an all-in-one investment product.
Retirement Blend Plus Trusts
Retirement Blend Plus Trusts are designed to adjust to changing needs to deliver durable, long-term outcomes — up to and throughout retirement. Professionally managed with a specific target retirement date in mind, the trusts make meaningful allocations to both active and passive strategies, alongside a range of private investments.
The trusts are made up of other globally diverse building block strategies that are purposefully selected with a holistic approach to risk management. That means each trust option provides a mix of different investments investing in hundreds or thousands of securities—in large and small companies, both foreign and domestic.
*Passive strategies
Implementation figures are shown for illustrative purposes only and represent amounts once fully invested and funded, so as to meet regulatory thresholds required for investment in certain private market assets.
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Trusts are available only to certain types of retirement plans and may not be available to all investors.
Important Information
1Underlying investments of the T. Rowe Price Goldman Sachs Retirement Blend Plus Trusts. Exposure to private assets will be implemented through investments in different collective investment trusts sponsored by T. Rowe Price, the T. Rowe Price Goldman Sachs Public Private Equity Trust, and T. Rowe Price Direct Credit Trust.
2Source: T. Rowe Price. All data shown as of December 31, 2025.
3As of December 31, 2025.
4As of December 31, 2025. Total alternative assets include fee-paying and non-fee-paying assets under supervision and other alternative assets held on Goldman Sachs’s balance sheet.
T. Rowe Price Goldman Sachs Retirement Blend Plus Trusts (Trusts) are sponsored and maintained by T. Rowe Price Trust Company (TRPTC). TRPCT, as trustee of the Trusts, has retained T. Rowe Price Associates, Inc., to assist TRPTC in the investment of assets of the Trusts, including the selection, monitoring, and retention of managers. Goldman Sachs Asset Management, L.P. (GSAM), is not a fiduciary, sponsor, investment adviser, subadviser, promoter, principal underwriter, or affiliate of the Trusts. GSAM is not responsible for the services provided by T. Rowe Price Associates, Inc. GSAM (or a GSAM affiliate) is the investment adviser of certain Underlying Funds (the “GSAM Underlying Funds”). The GSAM Underlying Funds are not subject to ERISA, and GSAM is not a fiduciary within the meaning of ERISA with respect to its management of the assets of the GSAM Underlying Funds. GSAM is only responsible for information provided by it about GSAM and the GSAM Underlying Funds. T. Rowe Price and Goldman Sachs have formed a strategic collaboration, which can, in some cases, present actual or potential conflicts of interest with respect to the Trust. Trustee fees are inclusive of management fees and operating and administrative expenses of the Trust. T. Rowe Price will pay GSAM a portion of the management fee that it collects from the Trusts.
All investments are subject to market risk, including the possible loss of principal. The principal value of the target date strategies is not guaranteed at any time, including, if applicable, at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65). Investments in other strategies: The strategies bear the risk that underlying strategies will fail to successfully employ their investment mandates. One or more underlying strategy's underperformance or failure to meet its investment objective(s) as intended could cause the strategy to underperform similarly managed strategies. Interest rates: A rise in interest rates typically causes the price of a fixed rate debt instrument to fall and its yield to rise. Conversely, a decline in interest rates typically causes the price of a fixed rate debt instrument to rise and the yield to fall. International investing: Non-U.S. securities tend to be more volatile and have lower overall liquidity than investments in U.S. securities and may lose value because of adverse local, political, social, or economic developments overseas or due to changes in the exchange rates between foreign currencies and the U.S. dollar. Emerging markets: Investments in emerging market countries are subject to greater risk and overall volatility than investments in the U.S. and other developed markets. Private assets: Investments in private assets are illiquid, lack transparency, and have the potential for substantial loss of capital. Private equity investments carry additional risks, such as longer investment horizons, higher fees, and dependence on the operational success of underlying portfolio companies. Private credit investments may be subject to credit risk, lower recovery rates in the event of default, and less regulatory oversight compared with public debt markets. See the product offering documents for more detail on the principal risks.
The T. Rowe Price Goldman Sachs Retirement Blend Plus Trusts and their underlying trusts (Trusts) are not mutual funds; rather, the Trusts are operated and maintained so as to qualify for exemption from registration as mutual funds pursuant to Section 3(c)(11) of the Investment Company Act of 1940, as amended. The Trusts are established by T. Rowe Price Trust Company under Maryland banking law, and their units are exempt from registration under the Securities Act of 1933. Investments in the Trusts are not deposits or obligations of, or guaranteed by, the U.S. government or its agencies or T. Rowe Price Trust Company and are subject to investment risks, including possible loss of principal.
OHA is a T. Rowe Price Company.
T. Rowe Price and Goldman Sachs are not affiliated companies.
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