Blackstone Says Alternative Assets Are Headed for Your 401(k)
- Retail assets at Blackstone could reach $500 billion
- Increased liquidity in alt products appeals to advisers
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Alternative assets will eventually find their way into 401(k) plans, predicted Joan Solotar, global head of private wealth solutions at Blackstone Inc.
“The premise of saving for 10, 20, 30, 40 years and only having access to daily liquidity products doesn’t make sense,” said Solotar, speaking Thursday at the Bloomberg Wealth Summit in New York. “It’s a mismatch.”