Blackstone to Offer Private Investments in Empower 401(k)s

Blackstone Inc. is partnering with retirement plan administrator Empower, as the alternative asset giant pushes further to get its products into the accounts of everyday investors.

Empower’s private market investment partnership program will offer its customers access to Blackstone’s funds via collective trusts. Blackstone manages $1.2 trillion of assets across private equity, credit, real estate and infrastructure funds.

“Our goal is to bring the power of private market investing — delivered through advice and risk-appropriate structures — to millions of Americans who previously lacked access,” Edmund Murphy, chief executive officer of Empower, said in the statement.

Alternative asset ...