BlackRock Seeks 5% to 20% of Target-Date Funds in Private Assets
BlackRock announced a plan to expand retirement investors’ access to private-market exposure by letting certain target-date mutual funds allocate 5% to 20% of capital to privately held businesses, starting with funds overseen by Great Gray Trust. Access would depend on 401(k) sponsors and administrators agreeing it benefits employees. Over decades, BlackRock projects account balances could be about 15% higher, and Bill Ackman is also planning a new venture fund for non-institutional investors.