Charles Schwab Opens Private Market with Acquisition of Pre-IPO Platform Forge

On March 2, The Charles Schwab Corporation (NYSE: SCHW) completed its acquisition of Forge Global Holdings, a private pre-IPO stock trading platform, in a cash transaction valued at approximately $660 million (about ₩900 billion). Under the terms of the deal, Forge shareholders received $45 per share. Schwab plans to integrate Forge’s private markets platform to broaden access to unlisted and alternative investments for both retail clients and registered investment advisers.

Earlier in January, Schwab attracted substantial net new assets, extending its year-over-year growth in client assets. Separately, Chief Technology, Operations, and Data Officer Dennis Howard disclosed in early March that he sold approximately $956,000 worth of Schwab shares under a pre-arranged trading plan.

Charles Schwab is one of the United States’ foremost online brokerage and asset-management firms. Backed by tens of millions of brokerage accounts and trillions of dollars in client assets, Schwab offers a full range of financial services—including brokerage, banking, asset management, and custody services.

Markets for private and alternative investments—such as private pre-IPO shares—have expanded amid delayed public listings and growing demand from high-net-worth investors. This acquisition reflects a broader industry trend in which leading retail brokerages are incorporating private-market platforms to give individual investors greater access to these opportunities.