Blue Owl, a major player in private markets, is teaming up with retirement-services company Voya to bring private investments—like private equity and credit—into 401(k) plans through target-date funds. Essentially, they’re trying to give everyday retirement savers access to asset classes usually reserved for the wealthy or institutional investors.

Editor’s Note: This move could shake up the 401(k) landscape by expanding investment options beyond traditional stocks and bonds. Private assets often promise higher returns but come with more risk and less liquidity. While it might offer savers a chance to diversify, it also raises questions about whether these complex investments belong in retirement accounts. Either way, it’s a sign that Wall Street is hungry to tap into the massive pool of retirement savings.