Blackstone Establishes New Division to Direct Retirement Funds into Private Markets
Leading asset manager Blackstone has created a new business unit focused on directing retirement savings into private market investments. The move comes after President Trump’s executive order made it easier for 401(k) plans to include alternative assets like private equity and real estate.
Blackstone Targets Retirement Savings Market
Global asset management firm Blackstone Inc. has reportedly launched a specialized unit to channel more retirement funds into private market investments, according to recent reports. The company indicated this represents a potentially multi-trillion-dollar opportunity in the United States alone, with Americans holding approximately $9.3 trillion in 401(k) plans as of June 30.