Wall Street Has a Hot Way to Sell Private Assets to the Masses

The push to put private assets in the hands of individual investors is breathing new life into a relatively quiet corner of the asset management industry: interval funds.

Vanguard Group, Capital Group and the TCW Group are among the investment giants who have embraced the semi-liquid funds, partnering with the likes of Blackstone Inc., KKR & Co and Apollo Global Management Inc. to source the private securities.

The revival has seen 25 interval funds launch this year alone, bringing the grand total to 142 funds — while that’s a fraction of the hundreds of new exchange-traded funds that ...