Wellington, Vanguard and Blackstone launch interval funds for individual investors

By Elaine Misonzhnik Wed, July 22, 2026 at 5:45 AM PDT | 4 min read

Wellington Management, Vanguard, and Blackstone have launched the first two funds from their previously announced collaboration on public/private product development. The funds are designed to provide individual investors with simplified access to managed portfolios that combine public and private markets.

The two new funds are:

• WVB All Markets Fund
• WVB Blackstone All Privates Fund

Background

The partnership between Blackstone (the largest alternative asset manager), Vanguard (the largest ETF issuer), and Wellington (which manages $1.3 trillion across a variety of asset classes) has been closely watched since its announcement. It is part of a broader trend of joint ventures between traditional and alternative asset managers seeking to build private-public investment products, and it is one of the highest-profile tie-ups in the industry.

WVB All Markets Fund

The WVB All Markets Fund is a multi-asset interval fund that integrates:

• Wellington's active public equities strategies
• Vanguard's active fixed income and index strategies
• Exposure to Blackstone's perpetual private markets platform

Tickers: WVBIX, WVBAX, WVBMX

Target Allocation (per SEC filing):

| Asset Class | Allocation Range | |-------------|------------------| | Public equities | 40% to 60% | | Public fixed-income investments | 15% to 30% | | Private market allocations | 25% to 40% |

The fund was filed with the SEC in May 2025.

WVB Blackstone All Privates Fund

The WVB Blackstone All Privates Fund provides access to strategies available through Blackstone's private markets platform via a single allocation, including:

• Private equity
• Private infrastructure
• Private real estate
• Private credit

The fund was filed with the SEC in December 2025.

Industry Context

Kimberly Flynn, President at XA Investments (which tracks interval funds and tender offer funds), commented:

"The WVB interval fund series represents three powerhouse brands and is designed to open up private markets investing for investors who have little to no alts investment exposure. The public/private segment of the interval fund market is fairly new, with Capital Group / KKR leading the way with their two public/private credit funds that launched in 2025. Based on XA Investments' interval fund market research, we anticipate the WVB interval fund launch to accelerate this trend. A number of public/private market asset blends are in the SEC registration process now and should launch in the next six to nine months, including the recently filed T. Rowe/Goldman Sachs All Equity Access fund."

The launch reflects a growing trend in the asset management industry toward offering investment products that combine exposure to public and private markets, although there is currently no consensus on a preferred vehicle. While the Blackstone/Wellington/Vanguard products—like the Capital Group/KKR ones—are interval funds, other managers have opted to build model portfolios that include exposure to both public and private funds. Additionally, major UMA providers have begun adding private market functionality to their platforms.

Photo by Sophie Park/Bloomberg

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