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Wellington Management, Vanguard and Blackstone, which announced a collaboration on public/private product development last year, are launching the first two of those funds, aimed at giving individual investors simplified access to managed portfolios that combine public and private markets. The funds are the WVB All Markets Fund and the WVB Blackstone All Privates Fund. The partnership between Blackstone, the largest alternative asset manager, Vanguard, the largest ETF issuer, along with Wellington, which manages $1.3 trillion across a variety of asset classes, has been closely watched since its announcement.
It’s part of a broader trend of joint ventures between traditional and alternative asset managers seeking to build private-public investment products, and it’s one of the highest-profile tie-ups. The WVB All Markets Fund, which the partnership filed with the SEC last May, is a multi-asset interval fund that will integrate Wellington’s active public equities strategies with Vanguard’s active fixed income and index strategies and exposure to Blackstone’s perpetual private markets platform. The fund will trade under tickers WVBIX, WVBAX and WVBMX.