Wellington Management, Vanguard and Blackstone have launched two investment funds designed to give eligible investors simplified access to professionally managed portfolios spanning public and private markets.
The WVB All Markets Fund and the WVB Blackstone All Privates Fund are the first products introduced through the firms’ strategic alliance. The funds will initially be available to clients of Merrill and Bank of America Private Bank.
The WVB All Markets Fund combines Wellington’s active public equity and asset allocation capabilities with Vanguard’s fixed-income and index strategies and exposure to Blackstone’s private market platform.
The fund will be offered through share classes trading under the tickers WVBIX, WVBAX and WVBMX.
The WVB Blackstone All Privates Fund provides exposure to Blackstone strategies across private equity, private infrastructure, private real estate and private credit through a single investment allocation.
The funds are intended to help financial advisors construct diversified, long-term portfolios for high-net-worth and mass-affluent clients. The firms also expect interest from registered investment advisors and plan to explore additional distribution opportunities.
Wellington will serve as the investment manager for both funds. Blackstone and Vanguard are not sponsors, investment advisors, sub-advisors, underwriters or affiliates of the funds.
The partnership combines Wellington’s active management and multi-asset experience, Vanguard’s fixed-income and index investing capabilities, and Blackstone’s private market investment platform.
The firms said the products are intended to provide individual investors with access to investment strategies that historically were more commonly available to large institutions.
Both products are closed-end funds and their shares are not expected to trade on a securities exchange or active secondary market. Liquidity is expected to be available primarily through periodic tender or repurchase offers, which may occur quarterly.
There is no guarantee that investors will be able to sell all the shares they submit during a repurchase offer. Some of the underlying private market investments may also impose limits on redemptions, making the funds less suitable for investors who may need short-term access to their capital.
Wellington managed more than $1.35 trillion as of April 30, 2026. Blackstone had more than $1.3 trillion in assets under management, while Vanguard provides investment, advisory and retirement services to tens of millions of investors.
KEY QUOTES:
“Our clients are increasingly seeking broader access to private markets and for thoughtful ways to implement these strategies over time. Our scale and integrated platforms are expanding access to differentiated investment opportunities that can support more resilient long-term portfolios.”
Mark Sutterlin, Head of Alternative Investments at Merrill and Bank of America Private Bank
“The launch of the WVB All Markets and WVB Blackstone All Privates Funds reflects the strength of our strategic alliance with Vanguard and Blackstone. By combining our deep active management and asset allocation capabilities with Vanguard’s scale and expertise in fixed income and indexing and Blackstone’s leadership in private markets, we are delivering thoughtfully constructed solutions designed to meet investors’ evolving needs.”
Jean M. Hynes, CEO and Managing Partner of Wellington Management
“For five decades, Vanguard has worked to improve investor outcomes through disciplined active management, low-cost index strategies, and a client-focused approach. Through this collaboration with Wellington and Blackstone, we are extending that mission into integrated public and private market solutions.”
Greg Davis, President and Chief Investment Officer of Vanguard
“These new solutions bring together the performance and scale of Blackstone’s private markets platform with the exceptional strengths of Wellington and Vanguard, creating simple and comprehensive access for advisors and their clients to help build long-term wealth.”
Jon Gray, President and COO of Blackstone
