Global Market: Wellington, Vanguard, Blackstone launch hybrid public-private investment funds for wealthy clients

Wellington, Vanguard, and Blackstone have jointly launched two hybrid public-private investment funds for wealthy clients through Merrill and Bank of America Private Bank. The WVB All Markets Fund combines public equities and fixed income strategies with Blackstone's private market investments, while the WVB Blackstone All Privates Fund offers exposure across private equity, private credit, infrastructure, and real estate. The launch reflects asset managers targeting high-net-worth individuals, with global HNW wealth rising to 98.3 trillion dollars by end-2025 per Capgemini data.