The new division – which sits within its private wealth business – will look for opportunities in the market via strategic partnerships, product innovation, and investor education.
The alternative asset manager has named Heather von Zuben as global head of retirement solutions, while Tom Nides will serve as the unit’s chair.
Read more: Secondaries set to be main beneficiary of 401(k) inclusion
Von Zuben was previously global head of perpetual capital solutions for Blackstone Credit & Insurance, having joined the firm in 2022 after 15 years at Goldman Sachs, where she held a range of leadership roles in business development across alternative investment solutions.
During his career, Nides, who joined Blackstone in 2024, worked at Morgan Stanley in various capacities, including as chief operating officer and vice chair.
Paul Quinlan has been appointed as head of US within the new unit, having most recently served as global chief financial officer of Blackstone Real Estate. He joined Blackstone in 2010 and has also worked at Bank of America Merrill Lynch.
Read more: Blackstone Real Estate makes senior leadership appointments
The firm began offering individuals access to its investment strategies in 2002 and built a dedicated private wealth team in 2011.
Blackstone manages nearly $280bn (£209.6bn) of assets from its private wealth channel, which offers a range of perpetual products and dedicated scale strategies across private equity, real estate, private credit, and private infrastructure.
“For decades, the world’s biggest and most sophisticated institutional investors benefitted from the strong returns and diversification of investing in private markets,” said Jon Gray, president and chief operating officer of Blackstone.
“Blackstone is well positioned to be the partner of choice for retirement solution providers given our brand, track record and broad slate of perpetual products.”
The firm manages $1.2tn in assets across global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
Read more: Blackstone and State Street to launch European CLO ETF
In August, Trump signed an executive order to allow the asset class – and other alternative assets – in 401(k) retirement accounts.
“My Administration will relieve the regulatory burdens and litigation risk that impede American workers’ retirement accounts from achieving the competitive returns and asset diversification necessary to secure a dignified, comfortable retirement,” the order said.
