Blackstone has joined Empower’s private markets investment partnership program, furthering its push to bring institutional-grade alternative investments into the retirement space.
The initiative allows 401(k) savers to access private equity, private credit, infrastructure and real estate strategies through collective investment trusts (CITs), . Empower only offers these options through its advice-driven managed account platform, which tailors allocations to individual risk profiles and retirement goals. The program already includes partners such as Apollo (NYSE: APO), Goldman Sachs (NYSE: GS), Franklin Templeton, Neuberger Berman, PIMCO, Partners Group and Sagard. The addition of Blackstone (NYSE: BX)—whose dedicated retirement business supports over $1.2 trillion in firmwide AUM—adds both scale and credibility to the program’s goal of democratizing access to asset classes traditionally reserved for institutions and high-net-worth individuals.
The deal reflects Blackstone’s long-term strategy of expanding into individual wealth and retirement channels.