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Blackstone’s vehicles would be offered to clients of the private-banking service that Revolut is developing, according to people with knowledge of the negotiations. A tie-up between Revolut and Blackstone would be among the most high-profile examples yet of private capital firms trying to tap into wealthy investors as they seek new sources of funding.
While many private capital managers have joined forces with firms catering to HNWs, some are also targeting retail investors. German online broker Trade Republic said in September it’s teaming up with Apollo Global Management Inc. and EQT AB, while Robinhood Markets Inc. earlier this year started launching a closed-end fund to give US retail investors exposure to private companies.
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