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Strategic alliance to broaden private-market access could enhance BX's AUM growth and fee-based revenue through diversified channels, particularly in high-net-worth segments.
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Wellington Management, Vanguard, and Blackstone unveiled two closed-end funds on Bank of America platforms, expanding access to blended public and private assets. The WVB All Markets Fund combines active public markets with private markets exposure, while the WVB Blackstone All Privates Fund offers direct private-market allocations. The collaboration could drive Blackstone’s asset inflows and fee generation through Merrill and BoA Private Bank channels in coming quarters.
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