Schwab, a discount brokerage firm providing investment and banking services to retail investors, is acquiring Forge Global for $660 million in cash to expand its private-markets offering, giving its clients access to Forge’s leading trading platform for private company shares. The deal—expected to close in the first half of 2026—will integrate Forge’s marketplace, data, and private-company solutions into Schwab’s wealth and advisory ecosystem, initially targeting ultra-high-net-worth clients before expanding access to over 1 million retail clients and advisers. By adding direct access to private securities, Schwab aims to capture rising demand for private-market exposure, diversify revenue streams, and position itself as a major distribution channel for private investments as companies stay private longer.

Schwab to Buy Forge Global to Boost Private Markets Offering