Charles Schwab Corporation announced that it will acquire private‑markets platform Forge Global in an all‑cash transaction, paying $45 per share for the company’s outstanding equity. The deal, which is expected to close in the second half of 2026 pending regulatory approval, will give Schwab’s retail and advisory clients direct access to private‑market investments that have traditionally been limited to institutional investors.
The acquisition is part of Schwab’s broader strategy to expand its alternative‑asset footprint. By integrating Forge Global’s marketplace for private‑company shares, Schwab can offer a new suite of investment products that include private equity, venture capital, and secondary market liquidity. This move is designed to deepen client relationships, increase assets under management, and differentiate Schwab’s wealth‑management platform in a market where private‑market exposure is becoming a key driver of long‑term returns.
Management highlighted the strategic fit during the announcement. Chief Executive Officer Walt W. Smith said the deal “aligns with our commitment to broaden access to high‑quality alternative investments for all Schwab clients.” Chief Financial Officer John D. Lee added that the all‑cash structure “provides certainty for Forge Global shareholders and preserves Schwab’s balance‑sheet flexibility.” The company also noted that Forge Global’s technology platform will be leveraged to streamline trade execution and reporting for Schwab’s advisory teams.
Regulatory approval is expected to be obtained from the U.S. Securities and Exchange Commission and relevant state regulators. The transaction is projected to close in the second half of 2026, with a target closing date of September 30, 2026, subject to customary closing conditions. Schwab will use approximately $1.8 billion of cash to fund the purchase, a figure that represents a modest portion of its $30 billion in liquid assets.
The deal is anticipated to generate synergies through cross‑selling opportunities and operational efficiencies. Schwab expects to capture a share of Forge Global’s transaction fees and to integrate its liquidity solutions into its existing brokerage platform. The acquisition also positions Schwab to capture growth in the private‑market segment, which has seen a 15% annual increase in assets under management over the past three years.
Overall, the acquisition signals Schwab’s intent to become a leading provider of alternative‑asset solutions for retail investors, while reinforcing its competitive stance against other wealth‑management firms that are expanding into private‑market offerings.
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