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Blackstone is creating a new group focused on getting private equity and other higher-fee offerings into retirement accounts of everyday investors. The new group will devise new investment products, pursue partnerships, and seek to explain how private markets work, operating within Blackstone's private wealth group, and comes as efforts by alternative asset managers race to capture a pool of defined contribution money after the Trump administration eased the path for them to reach everyday investors.
Heather von Zuben, who oversaw perpetual funds for Blackstone’s credit and insurance arm, will steer the new group as head of retirement solutions. Blackstone Vice Chair Tom Nides, a former diplomat who joined the firm last year, will be chairman of the business.
