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Orlando A. González, CFA, Investment Director - Private Equity, is responsible for capital raising, fund structuring, and investor relations to drive growth across T. Rowe Price's private equity platform. González was formerly head of the business development group at Citi Investment Bank and has 25 years of industry experience with Citi, J.P. Morgan Chase & Co., and Merrill Lynch. He is based in Baltimore.

Emma Norchet, Lead Private Technology Investor, is responsible for leading and growing the firm's private technology investing practice. Norchet has more than ten years of private investing experience across the technology sector, with an extensive focus on software. Before joining T. Rowe Price, Norchet was director of late-stage and growth technology investments for the Ontario Teachers' Pension. She is based in San Francisco.

Both González and Norchet report to David DiPietro, Head of Private Equity.

QUOTES

"Orlando and Emma are seasoned private equity professionals, and their addition to our team further strengthens T. Rowe Price's ability to provide differentiated private company investment capabilities to our clients," said DiPietro. "This expansion of our private investment team, combined with OHA's private credit expertise, underscores the firm's comment to growing its alternatives capabilities in the years ahead."

Investing in private companies is strategically important to T. Rowe Price, said Eric Veiel, head of global investments and chief investment officer. "Our activities in this area are a natural extension of T. Rowe Price's core investment expertise. Beyond giving us the potential to contribute positively to investor returns, we believe that analyzing and selectively investing in private companies is additive to our research process. It improves our understanding of emerging growth markets and their possible implications for our investments in larger, public companies."

Veiel continued, "We believe that our history of investing in young companies, our long-term investing approach, and our scale are helpful not only in identifying attractive investment opportunities, but also in enhancing the value proposition to entrepreneur founders and venture capital sponsors. This orientation has helped make T. Rowe Price an attractive and preferred source of capital to late-stage private companies over the years."

T. Rowe Price, which has invested in private companies for 17 years, has made growth in alternative investments a strategic priority as signified by the 2021 acquisition of Oak Hill Advisors (OHA), its alternative credit platform, and the establishment of a centralized private equity team that same year.