Sep. 30 at 2:24 PM
Blackstone and Ares Management are preparing to attract small investors to private markets, including 401(k) retirement plans. President Trump’s August order gave federal agencies six months to consider new rules easing access for individual investors. Ares also raised its 2028 targets to $ 17B in fundraising and $ 125B+ in assets under management.
Blackstone plans new 401(k) products for both affluent investors and retirement savers, working with Vanguard and Wellington. Ares highlighted growth in real estate, asset-based lending, secondary private equity, and wealth products targeting both high-net-worth and mass-affluent investors. Its private credit, equity, data infrastructure, and sports/entertainment offerings aim to set fundraising records this year.
Analysts note Blackstone may benefit most from target-date 401(k) funds aligned with long-term private investments, while Ares’s diversified growth initiatives support confidence in reaching ambitious long-term targets.
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