Funds available at launch through Bank of America wealth management platforms

BOSTON & VALLEY FORGE, Pa. & NEW YORK–(BUSINESS WIRE)–Wellington Management (“Wellington”), Vanguard, and Blackstone (NYSE: BX) today announced the launch of two new investment solutions created as part of their recently formed strategic alliance and designed to give eligible investors simplified access to professionally managed portfolios that combine public and private markets.

1. WVB All Markets Fund, a multi-asset solution for investors who want to simplify the integration of public and private markets. The fund will integrate Wellington’s expertise in active public equities, Vanguard’s strengths in active fixed income and index strategies, with exposure to Blackstone’s leading perpetual private markets platform. The fund will trade under the tickers WVBIX, WVBAX, and WVBMX.
2. WVB Blackstone All Privates Fund, a professionally managed solution providing a simple access point to Blackstone’s leading perpetual private markets platform, including private equity, private infrastructure, private real estate, and private credit in a single allocation.

The new closed-end funds will be available at launch to Merrill and Bank of America Private Bank clients, providing advisors on one of the industry’s leading wealth management platforms with access to the first solutions from the strategic alliance. The alliance also anticipates broad participation and adoption from the RIA community, and will explore additional distribution opportunities across the wealth ecosystem over time.

The solutions aim to help advisors build more diversified portfolios for high-net-worth and mass-affluent clients in a simplified investment framework. The funds are intended to help advisors construct long-term portfolios that seek strong performance, long-term growth, and broad portfolio diversification.

A Powerful Alliance of Investment Leaders

The WVB All Markets Fund and WVB Blackstone All Privates Fund bring together:

• Wellington’s nearly 100-year heritage of active management, fundamental research, and multi-asset allocation expertise;
• Vanguard’s 50-year legacy of delivering high-performing active strategies and index funds¹ with a relentless focus on cost efficiency and investor outcomes; and
• Blackstone’s 40-year track record of cycle-tested performance and leadership position as the world’s largest alternative asset manager and number one provider of private markets solutions for individuals.

Together, the firms are uniquely positioned to deliver integrated investment solutions that were historically available primarily to large institutions. To expand access to their collective strengths, Wellington, Vanguard, and Blackstone are actively exploring additional product structures to support retirement savers, financial advisors, and individual investors.

Mark Sutterlin, Head of Alternative Investments, Merrill and Bank of America Private Bank, said:

“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.”

Jean M. Hynes, CEO and Managing Partner, Wellington Management, said:

“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. We are particularly pleased to introduce these funds initially through the powerful Merrill and Bank of America Private Bank platforms.”

Greg Davis, President and CIO of Vanguard, said:

“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. Launching these funds with Bank of America Private Bank and Merrill is an important first step in expanding access to those solutions.”

Jon Gray, President and COO of Blackstone, said:

“Blackstone has delivered performance in private markets for individuals for more than two decades, helping them access the premium returns, lower volatility, and diversification that private markets can provide. 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.”

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