T. Rowe Price (TROW) has secured financing for a new corporate bond fund from Walmart (WMT) heir Lukas Walton's Builders Vision impact platform, Bloomberg reported Monday.

Builders Vision and Xylem (XYL), a water technology company, are among early investors, contributing a combined $200 million, the report said.

T. Rowe Price is targeting as much as $500 million to support investments in water security and marine protection in emerging markets, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)