BNY Is Latest to Expand Access to Hedge Funds, Private Credit

Bank of New York Mellon Corp. wants wealthy investors to have easier access to private assets from the likes of Apollo Global Management Inc., Blue Owl Capital and Goldman Sachs Group Inc.

It’s launching a program for wealth advisers and investors to link up with more than 20 external asset managers for private equity, credit, infrastructure and other alternative funds, BNY said Monday in a statement. They include Franklin Templeton, Carlyle Group Inc., KKR & Co. and Marathon Asset Management.

The custody bank is seeking to make trading and reporting for private assets simpler.

“We consistently hear from advisers that ...