Investment giants Wellington Management and Vanguard are partnering with alternative asset manager Blackstone to develop multi-asset investment solutions that invest across public and private markets.
The collaboration will draw on the different expertise of each group, from active management and asset allocation to index funds and private markets to create portfolios that can be accessed by individual investors and their advisers.
The details of the solutions will be announced in the coming months.
In a statement, Jean M. Hynes, chief executive of Wellington Management, said: “We believe the unique combination of our investment expertise and well-respected brands will enable us to provide investors with comprehensive asset class exposure in easy-to-access investment solutions.”
Vanguard president Greg Davis, added: “Through this unique collaboration with Wellington and Blackstone, we’re once again helping clients achieve investment success and changing the way investors access public and private markets.”
The announcement comes at a time when traditional asset managers and alternatives groups are increasingly partnering up to tap the opportunity of bringing private markets to individual investors.
State Street has created an ETF with Apollo Global Management, combining public and private credit, while BlackRock has partnered with Partners Group to launch model portfolios. KKR and Capital Group have also been working on rolling out private-public investment solutions for investors.
Vanguard previously launched a private equity strategy, in partnership with Harbourvest and has attracted just around $2bn in client commitments.
