Charles Bergstresser is an American businessman and investor. He is the co-founder and managing partner of the private equity firm The Carlyle Group.
Charles Bergstresser is an American businessman and entrepreneur who is best known for his role as the co-founder and CEO of T. Rowe Price, one of the world’s largest asset management firms. He was born in Baltimore, Maryland in 1891 and attended the University of Maryland, College Park, where he earned a degree in economics. After college, he worked as a stockbroker and eventually became a partner at the brokerage firm of T. Rowe Price & Co. in Baltimore.
In 1937, Bergstresser and his partners founded T. Rowe Price Associates, Inc., which quickly became one of the most successful asset management firms in the world. Under Bergstresser’s leadership, the firm grew to manage over $100 billion in assets by the time of his death in 1971. He was also a pioneer in the field of mutual funds, launching the first mutual fund in the United States in 1940.
Throughout his career, Bergstresser was a strong advocate for the importance of diversification and long-term investing. He was also a philanthropist, donating to numerous charities and educational institutions. He was inducted into the Investment Hall of Fame in 2002.