Firms

T. Rowe Price Investment Management Inc.

1307 Point Street, Baltimore, Maryland 21231, United States

adviserinfo.sec.gov

T. Rowe Price Investment Management, Inc. (TRPIM) is a separately SEC-registered Maryland investment adviser within the T. Rowe Price group, CRD314590 and adviser file801-121434. Its current July1,2026 Form ADV identifies T. Rowe Price Associates, Inc. as the direct controlling owner and T. Rowe Price Group, Inc. as indirect owner. Regulatory officers acquired their positions beginning May2021; the distinct investment business began operating March7,2022 after the publicly announced separation of six U.S. strategies. The founding field reflects the primary-confirmed March2022 operating establishment. Officers were already appointed in2021; an exact legal incorporation day is not independently established here, and those appointment dates are not represented as a separate founding event. Neither the group parent nor Associates is substituted for TRPIM when an issuer explicitly names accounts advised by this specific entity. The principal office is1307PointStreet,Baltimore,Maryland21231. It conducts independent investment research and decision making with shared group corporate functions, managing registered funds, institutional separate accounts and other client mandates across equities, allocation and high-yield credit. Its publicly named professionals include specialist biotech and healthcare analysts, quantitative researchers and investment managers. Actual deeptech/life-sciences exposure is established by Alamar Biosciences, a precision-proteomics platform company: its January2026 announcement names accounts advised by TRPIM as participants in completed USD56.5Mconvertible-note financing. That is client-account investment, not a treasury purchase by the adviser; the exact investing account, legal fund, individual ticket and lead status are unpublished. Conversion of these notes in an IPO would not be new cash. Primary own biographies and the July2026 adviser filing support a scoped25-person public investment/governance roster; this is not an invented full private employee directory or wholesale import of the parent group staff. Stephon Jackson remains president/head through2026; Steven Krichbaum became associate head January22,2026 and is announced to succeed him January1,2027. Parent executives RobertSharps,DavidOestreicher andJenniferDardis are included only for the distinct TRPIM legal director/officer roles explicitly confirmed by FormADV. The current filing lists no private funds in Schedule7.B.(1) or7.B.(2). Its public open-ended mutual funds, exchange-traded products and client accounts are not closed-end VC LP funds. Verified products are recorded with undisclosed fundraising amounts and closing dates; net assets, regulatoryAUM, GAV, fund fees, share purchases and strategy launch dates are not closed fresh capital. Current legal adviser/subadviser allocation is qualified separately for each fund, with broader product-wrapper audit retained as a documented gap. Own biographies currently use a generic avatar for BrianBerghuis and DouglasZinser, while compliance officer SavonneFerguson lacks a verified own current portrait; those three portrait gaps remain explicit. Every other included portrait is the genuine named official asset, not a generated image.

Founded: 2022
Type: Venture capital

Funds3

T. Rowe Price Capital Appreciation and Income Fund——
Registered open-ended mutual fund product. Primary summary prospectus names T. Rowe Price Associates as adviser and TRPIM as investment subadviser; this manager association is not exclusive ownership of the vehicle. Giroux/Shuggi co-manage. Product inception November29,2023 is not a closed LP round; fundraising amount/date remain NULL.
T. Rowe Price Institutional Small-Cap Stock Fund——
Registered open-ended institutional mutual fund, tickerTRSSX. Original March1,2026 prospectus directly inspected identifies T. Rowe Price Associates as adviser and TRPIM as investment subadviser. AlexRoik is the named portfolio manager, with management since2023; sole-manager transition2024 separately described. This is the exact Institutional Small-Cap Stock product, not the different retail Small-Cap Stock Fund. Adviser/subadviser affiliation does not identify any Alamar account. No closedLPfund cash inferred; amount/date remain NULL.
T. Rowe Price U.S. High Yield Fund——
Registered open-ended U.S. High Yield Fund, exact tickersTUHYX/TUHIX/TUHAX. Original August1,2026 primaryprospectus directly downloaded/parsed identifies Associates as adviser and TRPIM as investment subadviser. Current co-managers KevinLoome/DouglasZinser, with Zinser fromJune1,2026; Loome plans to step downDecember31,2026, afterwhichZinser solemanager. This is NOT the separately managed High Yield Fund PRHYX/HYF with Rayburn/Yatzeck; initial database genericname was correctedbeforefinalreview without moving otherfunds. It is a managedpublicproduct, not a closedprivateVCfund; fundassets/inception/managerappointment are notLP fundraising and amount/date remain NULL.