Reported 16 days ago
Blackstone is launching a new business unit to bring private equity and private credit into 401(k) plans, aiming to tap into the $13 trillion defined-contribution retirement market. This initiative, spearheaded by Heather von Zuben, will develop products and partnerships, including a collaboration with Vanguard Group and Wellington Management. The move follows a directive from President Trump aimed at easing the inclusion of nontraditional assets in retirement plans, an opportunity long sought after by Blackstone and its competitors.
Source: YAHOO