Apollo and Schroders Launch Joint Private Equity, Credit Vehicles for 401(k) Plans
Apollo Global Management and Schroders are launching jointly managed vehicles to allow US 401(k) plans direct exposure to private equity and credit, with pilot programs expected by mid-2026. The initiative targets the $8.7 trillion defined contribution market by offering institutional-grade private-market strategies.
1. Partnership Formation
Apollo and Schroders have formed a joint venture to develop private-market vehicles tailored for 401(k) plans, combining Apollo’s private equity and credit expertise with Schroders’ retirement plan distribution capabilities.
2. Product Structure and Timeline
The collaboration will offer separate private equity and private credit funds structured to comply with ERISA rules, with pilot programs slated to commence in mid-2026 for select plan sponsors.
3. Market Opportunity
By targeting the $8.7 trillion US defined contribution market, the initiative aims to diversify retirement portfolios with institutional-grade private-market strategies previously available only to large institutions.