United States Asset Managers $1.3 Trillion Wellington, $12 Trillion Vanguard & $1.3 Trillion Blackstone Launch 2 New Public & Private Markets Investment Solutions with 1) Multi-Asset Solution (WVB All Markets Fund) Investing via Waellington Active Public Equities, Vanguard Active Fixed Income & Index Strategies & Blackstone Perpetual Private Markets and 2) Private Markets Fund (WVB Blackstone All Privates Fund) via Blackstone Perpetual Private Markets Platform (Private Equity, Private Infrastructure, Private Real Estate & Private Credit), Both Funds Initially Available to Merrill and Bank of America Private Bank Clients
22nd July 2026 | Hong Kong
United States asset managers Wellington ($1.3 trillion AUM), Vanguard ($12 trillion AUM) & Blackstone ($1.3 trillion AUM) have launched 2 new public & private markets investment solutions with 1) Multi-asset solution (WVB All Markets Fund) investing via Wellington active public equities, Vanguard active fixed income & index strategies & Blackstone perpetual private markets and 2) Private markets fund (WVB Blackstone All Privates Fund) investing via Blackstone perpetual private markets platform (Private equity, private infrastructure, private real estate & private credit). Announcement (22/7/26): “Wellington Management (“Wellington”), Vanguard, and Blackstone (NYSE: BX) today announced the launch of two new investment solutions created as part of their recently formed strategic alliance and designed to give eligible investors simplified access to professionally managed portfolios that combine public and private markets. 1) WVB All Markets Fund, a multi-asset solution for investors who want to simplify the integration of public and private markets. The fund will integrate Wellington’s expertise in active public equities, Vanguard’s strengths in active fixed income and index strategies, with exposure to Blackstone’s leading perpetual private markets platform. The fund will trade under the tickers WVBIX, WVBAX, and WVBMX. 2) WVB Blackstone All Privates Fund, a professionally managed solution providing a simple access point to Blackstone’s leading perpetual private markets platform, including private equity, private infrastructure, private real estate, and private credit in a single allocation. The new closed-end funds will be available at launch to Merrill and Bank of America Private Bank clients, providing advisors on one of the industry’s leading wealth management platforms with access to the first solutions from the strategic alliance. The alliance also anticipates broad participation and adoption from the RIA community, and will explore additional distribution opportunities across the wealth ecosystem over time. The solutions aim to help advisors build more diversified portfolios for high-net-worth and mass-affluent clients in a simplified investment framework. The funds are intended to help advisors construct long-term portfolios that seek strong performance, long-term growth, and broad portfolio diversification. A Powerful Alliance of Investment Leaders. The WVB All Markets Fund and WVB Blackstone All Privates Fund bring together: Wellington’s nearly 100-year heritage of active management, fundamental research, and multi-asset allocation expertise; Vanguard’s 50-year legacy of delivering high-performing active strategies and index funds with a relentless focus on cost efficiency and investor outcomes; and. Blackstone’s 40-year track record of cycle-tested performance and leadership position as the world’s largest alternative asset manager and number one provider of private markets solutions for individuals … … Together, the firms are uniquely positioned to deliver integrated investment solutions that were historically available primarily to large institutions. To expand access to their collective strengths, Wellington, Vanguard, and Blackstone are actively exploring additional product structures to support retirement savers, financial advisors, and individual investors … … Wellington is the investment manager of the funds. Blackstone and Vanguard are not sponsors, promoters, investment advisers, sub-advisers, underwriters, or affiliates of the funds.”
“ United States Asset Managers $1.3 Trillion Wellington, $12 Trillion Vanguard & $1.3 Trillion Blackstone Launch 2 New Public & Private Markets Investment Solutions with 1) Multi-Asset Solution (WVB All Markets Fund) Investing via Wellington Active Public Equities, Vanguard Active Fixed Income & Index Strategies & Blackstone Perpetual Private Markets and 2) Private Markets Fund (WVB Blackstone All Privates Fund) via Blackstone Perpetual Private Markets Platform (Private Equity, Private Infrastructure, Private Real Estate & Private Credit), Both Funds Initially Available to Merrill and Bank of America Private Bank Clients “
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Mark Sutterlin, Head of Alternative Investments, Merrill and Bank of America Private Bank: “Our clients are increasingly seeking broader access to private markets and for thoughtful ways to implement these strategies over time. Our scale and integrated platforms are expanding access to differentiated investment opportunities that can support more resilient long-term portfolios.”
Jean M. Hynes, CEO and Managing Partner, Wellington Management: “The launch of the WVB All Markets and WVB Blackstone All Privates Funds reflects the strength of our strategic alliance with Vanguard and Blackstone. By combining our deep active management and asset allocation capabilities with Vanguard’s scale and expertise in fixed income and indexing and Blackstone’s leadership in private markets, we are delivering thoughtfully constructed solutions designed to meet investors’ evolving needs. We are particularly pleased to introduce these funds initially through the powerful Merrill and Bank of America Private Bank platforms.”
Greg Davis, President and CIO of Vanguard: “For five decades, Vanguard has worked to improve investor outcomes through disciplined active management, low-cost index strategies, and a client-focused approach. Through this collaboration with Wellington and Blackstone, we are extending that mission into integrated public and private market solutions. Launching these funds with Bank of America Private Bank and Merrill is an important first step in expanding access to those solutions.”
Jon Gray, President and COO of Blackstone: “Blackstone has delivered performance in private markets for individuals for more than two decades, helping them access the premium returns, lower volatility, and diversification that private markets can provide. These new solutions bring together the performance and scale of Blackstone’s private markets platform with the exceptional strengths of Wellington and Vanguard, creating simple and comprehensive access for advisors and their clients to help build long-term wealth.”
Wellington Management – Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1.35 trillion, as of April 30, 2026, for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture.
Vanguard – Founded in 1975, Vanguard is one of the world’s leading investment management companies. The firm offers investments, advice, and retirement services to tens of millions of individual investors around the globe—directly, through workplace plans, and through financial intermediaries. Vanguard operates under a unique, investor-owned structure and adheres to a simple purpose: to give investors the best chance for investment success.
Blackstone – Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
United States Asset Managers $1.3 Trillion Wellington, $12 Trillion Vanguard & $1.3 Trillion Blackstone Launch 2 New Public & Private Markets Investment Solutions with 1) Multi-Asset Solution (WVB All Markets Fund) Investing via Wellington Active Public Equities, Vanguard Active Fixed Income & Index Strategies & Blackstone Perpetual Private Markets and 2) Private Markets Fund (WVB Blackstone All Privates Fund) via Blackstone Perpetual Private Markets Platform (Private Equity, Private Infrastructure, Private Real Estate & Private Credit), Both Funds Initially Available to Merrill and Bank of America Private Bank Clients
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