Key Points:
- The Charles Schwab Forge Global acquisition is a $660M deal valuing Forge at $45/share—a 72% premium.
- Boosts access to private markets, with $17B in trades via Forge’s platform.
- Targets rising demand for startup equity, including firms like OpenAI and SpaceX.
The Charles Schwab Forge Global acquisition, valued at $660 million, involves the purchase of a leading private shares trading platform. The deal reflects a growing effort among major financial institutions to give investors broader access to high-growth startups that remain private for longer periods.
The all-cash deal, priced at $45 per share, represents a 72% premium over Forge Global’s last closing price. Following the announcement, Forge Global’s stock surged 65% in premarket trading, highlighting strong market interest in private investment platforms.
Expanding Investor Access to Private Markets
As more high-value startups postpone public listings, demand for access to pre-IPO shares has increased sharply. Companies like OpenAI, SpaceX, and ByteDance have achieved valuations that rival or surpass several major S&P 500 firms—all while staying private.
The Charles Schwab Forge Global acquisition aims to tap into this trend, giving its clients the opportunity to invest in promising startups before they go public. The move will strengthen Schwab’s wealth management and advisory capabilities, offering investors a new channel for portfolio diversification.
“The acquisition aligns with Schwab’s long-term strategy of meeting client demand for innovative investment options,” the company said in a statement.
A Strategic Step in a Competitive Landscape
The deal comes just weeks after Morgan Stanley announced its acquisition of EquityZen, a rival private shares platform. These back-to-back transactions mark a broader industry shift toward integrating private market trading into mainstream investment services.
Forge Global, which went public in 2021 through a special-purpose acquisition company (SPAC) merger, operates a marketplace that has facilitated over $17 billion in private share transactions. Its platform connects investors with employees and early stakeholders looking to sell equity in late-stage startups.
The company’s growing profile has attracted attention from major Wall Street players seeking to bridge the gap between public and private markets. Forge Global’s stock has risen 87% this year, buoyed by speculation of a potential acquisition.
Strengthening Schwab’s Market Position
For Charles Schwab, which manages $11.6 trillion in client assets and has a market capitalization of roughly $170 billion, the acquisition strengthens its position as a full-spectrum financial services provider. The company offers wealth management, brokerage, and advisory services to millions of clients worldwide.
Integrating Forge Global’s technology and marketplace infrastructure will allow Schwab to offer direct exposure to private equity and startup shares—a category increasingly popular with high-net-worth individuals and institutional investors.
The transaction is expected to close in the first half of 2026, pending regulatory approvals and customary closing conditions.
Industry analysts view the Charles Schwab Forge Global acquisition as a signal of how traditional financial firms are adapting to a rapidly evolving investment landscape, where private markets play an increasingly central role in wealth creation.
