Blackstone Links With Vanguard, Wellington for Retail Cash (1)

Blackstone Inc. is teaming up with Vanguard Group and Wellington Management Co. as part of a bid to offer private assets to more individual investors.

The companies are working on ways to build investment combinations with stocks, bonds and so-called alternative strategies that incorporate relatively illiquid assets, according to a statement. The tie-ups will expand Blackstone’s distribution channels among financial advisers.

The firms are planning to launch one product together initially, according to people familiar with the matter. They’ve been in discussions about a collaboration for months, the people said, asking not to be identified as the details are ...