T. Rowe Price is giving its investors a piece of perhaps the hottest company in the world -Facebook. The mutual fund company has a $190.5 million stake in Facebook, as well as a $71.8 million stake in Zynga and a $86.8 million stake in Groupon.
Back in 2009 T. Rowe participated in Twitter's $100 million round of fundraising, along with Morgan Stanley .
These social media investments are just a tiny piece of T. Rowe's $482 billion in assets under management. But it's a meaningful statement that the company is staking a claim in a hot market, that's not usually accessible to ordinary investors.
But T. Rowe's growing investments in social-oriented Internet companies - now topping $500 million in 19 funds - is a testament to the changes we're seeing in the IPO market and the growth of the second market.
But I think this has another message.