Wellington Management, Vanguard, and Blackstone have jointly filed to launch the WVB All Markets Fund, a multi-asset interval fund designed to give retail investors broader access to private market investments. Structured as an interval fund, it allows limited quarterly redemptions and will blend public equities, fixed income, and private assets, with Wellington serving as the investment adviser. 

The strategy permits up to 60% allocation to public equities and 30% to fixed income—both primarily through Vanguard—while allowing up to 40% in private funds managed by Blackstone. Although management fees weren’t disclosed, the fund requires a $2,500 minimum initial investment across its share classes. 

This marks the trio's first product since announcing their partnership in April, as asset managers increasingly look to democratize private markets through vehicles like interval funds. 

Finsum: Interval funds can be opaque and illiquid, making education and transparency essential for successful adoption among retail investors and potential clients.