Blackstone has launched a enterprise unit that can present retirement savers with entry to non-public markets through outlined contribution plans, and which sits inside its non-public wealth enterprise.

The brand new outlined contribution enterprise unit will search for alternatives available in the market through strategic partnerships, product innovation, and investor training. 

The choice asset supervisor has named Heather von Zuben as world head of retirement options, whereas Tom Nides will function the unit’s chair.

Learn extra: Blackstone inks £2bn funding partnership with Pluto Finance

Von Zuben was beforehand world head of perpetual capital options for Blackstone Credit score & Insurance coverage, having joined the agency in 2022 after 15 years at Goldman Sachs, the place she held a spread of management roles in enterprise improvement throughout various funding options.

Throughout his profession, Nides, who joined Blackstone in 2024, labored at Morgan Stanley in varied capacities, together with as chief working officer and vice chair.

Paul Quinlan has been appointed as head of US inside the new unit, having most just lately served as world chief monetary officer of Blackstone Actual Property. He joined Blackstone in 2010 and has additionally labored at Financial institution of America Merrill Lynch.

Learn extra: Blackstone Actual Property makes senior management appointments 

The agency started providing people entry to its funding methods in 2002 and constructed a devoted non-public wealth crew in 2011.

Blackstone manages practically $280bn (£209.6bn) of belongings from its non-public wealth channel, which presents a spread of perpetual merchandise and devoted scale methods throughout non-public fairness, actual property, non-public credit score, and personal infrastructure.

“For many years, the world’s greatest and most refined institutional buyers benefitted from the sturdy returns and diversification of investing in non-public markets,” stated Jon Grey, president and chief working officer of Blackstone.

“Blackstone is effectively positioned to be the accomplice of alternative for retirement resolution suppliers given our model, monitor file and broad slate of perpetual merchandise.”

The agency manages $1.2tn in belongings throughout world funding methods centered on actual property, non-public fairness, credit score, infrastructure, life sciences, progress fairness, secondaries and hedge funds.

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