Wellington, Vanguard and Blackstone to form a joint venture.

Wellington, an investment management company, Vanguard, an American registered investment adviser, and Blackstone, an American alternative investment management company, agreed to form a joint venture, to collaborate on developing multi-asset investment solutions to integrate public and private markets as well as active and index strategies. Financial terms were not disclosed. "Vanguard and Wellington have worked closely together for 50 years and have long admired Blackstone’s capabilities. We believe the unique combination of our investment expertise and well-respected brands will enable us to provide investors with comprehensive asset class exposure in easy-to-access investment solutions," Jean M. Hynes, Wellington Management CEO.