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State Street's asset-management arm held preliminary talks with Carlyle about a potential tie-up to create a product that would combine public and private markets for individual investors. If the talks lead to a collaboration, it would unite one of the world’s largest money managers with one of the biggest US alternative investment firms in a pairing that would ramp up the private-capital industry’s race for retail wealth.
“We are committed to bringing private markets exposure to individual investors,” a representative for State Street said in an emailed statement. The firm said it’s in initial discussions with several partners and no decisions have been made.
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