Finance
Blackstone, Vanguard, Wellington to Launch Private Markets Fund
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Blackstone Inc., Vanguard Group and Wellington Management Co are launching a fund that will invest in public equities, bonds and private markets, as part of their effort to expand private-market offerings to retail clients.
The firms have laid out plans for an interval fund, through which investors will be able to make quarterly withdrawals capped between 5% and a quarter of the fund’s net-asset value. according to a filing Wednesday.