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T. Rowe Price Group Inc. has secured financing from Walmart Inc. heir Lukas Walton ’s impact platform for a new corporate bond fund, which will support investments in themes including water security and marine protection in emerging markets.
The goal is to bring in as much as $500 million for the new strategy, according to Samy Muaddi , head of emerging markets fixed income at the Baltimore, Maryland-based asset manager. Builders Vision, an impact platform founded by Walton, and water technology firm Xylem Inc. are among early investors who have contributed a combined $200 million, T. Rowe said in an emailed statement to Bloomberg.