Distribution Management Service

Focused on absolute returns and pursuing client objectives since 1986.

We strive to provide an orderly liquidation of clients' private-equity distributions while pursuing an investment return superior to rapid liquidation. 

30+ Years

History of delivering on client objectives


Number of distributions

$53.6 B

Total receipts1,2

16.16 Years

Average life span of client relationships

Key Advantages Backed by Expertise

T. Rowe Price has managed over USD 53 billion in private equity receipts since Distribution Management Service's inception over 37 years ago. Our client base includes some of the most sophisticated private equity investors in the institutional community. We have the tenure, experience, and resources to properly manage all aspects of this complex process.

Preferred Economic Proposition

Selling immediately through standing instructions with the distributing broker usually provides suboptimal returns. We aim to achieve distribution price or greater through the analysis, retention, and informed sale of shares

Extensive Research Coverage

Proprietary analysis conducted by T. Rowe Price's global research platform informs the portfolio manager's disposition strategy

Global Trading Platform

Leverages our size, presence, and experience in small- and mid-cap stocks to secure best execution for our clients

Dedicated Operations Team

Manages the complexities associated with private-equity distributions and relieves clients of the administrative burden

One Point of Contact

Clients are supported by firmwide global resources

Straightforward Fee Schedule

One-time fee based on annual contributions (or proceeds of sales), earned independent of holding period

Your Unique Challenges. Our Expert Solutions.

Our Distribution Management Service manages the complexities and administrative burdens associated with private-equity distributions.

Connect With Us

If you have questions, or would like more information, please contact the Distribution Management Service team.

Meet the Portfolio Manager

Jennifer St. Germain

Jennifer St. Germain is the lead portfolio manager of the Distribution Management Service in the U.S. Equity Division. She is a vice president of T. Rowe Price Group, Inc.

Jennifer's investment experience began in 1993, and she has been with T. Rowe Price since 2004, beginning in the U.S. Equity Division. 

Jennifer earned a B.S. in finance from Boston College, Carroll School of Management, and an M.B.A. from Columbia Business School.

1Figures shown in U.S. dollars.

2Assets reported are as of 31 March 2023.