Sept 4 (Reuters) - Goldman Sachs ( GS ) will invest as

much as $1 billion in T. Rowe Price Group ( TROW ) and will also

partner with the asset manager to offer private market products

to retail investors, the companies said on Thursday.

Big financial firms such as Goldman, BlackRock ( BLK )

and Morgan Stanley ( MS ) are making a big push into alternative

assets, which have been dominated by private equity firms, to

capitalize on their growth potential and attract new clients.

The partnership will give Goldman access to T. Rowe's

retirement-focused client base, which is seen as a stable income

stream.

T. Rowe manages about $1.70 trillion in client assets,

two-thirds of which are related to retirement.

Goldman will invest through a series of open-market

purchases with the intention to own about 3.5% of the company,

the companies said, making the Wall Street bank the fifth

largest shareholder of T. Rowe.

T. Rowe shares, which have lost nearly 7% so far this

year, rose about 6% in trading before the bell after the

announcement.