Wellington, Vanguard and Blackstone Launch 2 Funds for Public-Private Access as Merrill Debuts Distribution
Updated
Updated · Wealth Management · Jul 21
Wellington, Vanguard and Blackstone Launch 2 Funds for Public-Private Access as Merrill Debuts Distribution
3 articles · Updated · Wealth Management · Jul 21
Summary
Two new interval funds from Wellington, Vanguard and Blackstone went live on July 22, giving individual investors access to blended public-private portfolios through Merrill and Bank of America Private Bank.
The flagship WVB All Markets Fund mixes Wellington public equities, Vanguard fixed income and index strategies, and Blackstone private assets, with allocations set at 40%-60% equities, 15%-30% fixed income and 25%-40% private markets.
A second vehicle, the WVB Blackstone All Privates Fund, offers a single allocation across Blackstone's private equity, infrastructure, real estate and private credit strategies, while Wellington manages portfolio construction for both funds.
The launch extends a high-profile partnership announced last year and adds momentum to a fast-growing push by traditional and alternative managers to package private-market exposure for wealth clients through interval funds, models and other structures.
When industry titans like Vanguard and Blackstone partner, who are the ultimate winners and losers in asset management's future?
Will blending public and private assets truly improve 401(k)s, or just introduce new risks and higher fees for savers?
With private credit under stress, are these new funds a timely opportunity or a potential trap for everyday investors?
Wellington, Vanguard, and Blackstone Unite: New Interval Funds Open Private Markets to Individual Investors
Overview
In April 2025, Wellington Management, Vanguard, and Blackstone formed a strategic alliance to create new investment solutions that combine public and private market assets. This partnership led to the launch of two funds, including the WVB All Markets Fund, set to debut in late 2025. The main goal is to make private markets more accessible to individual investors, offering greater diversification and exposure to alternative investments. These new products are designed to smooth out performance compared to traditional portfolios, with Blackstone highlighting lower volatility as a key advantage of private assets.