Empower said Wednesday that Blackstone Inc (NYSE:BX) has joined its private-markets investment partnership program, a move the company says will broaden access to alternative strategies for millions of retirement savers.

The initiative allows defined‑contribution plans to add exposure to private equity, private credit, infrastructure, and real estate through collective investment trust structures, an area Empower has been pushing to expand as plan sponsors look beyond traditional stock‑and‑bond mixes, the provider of retirement and wealth management solutions said in a press release.

"Our goal is to bring the power of private market investing, delivered through advice and risk-appropriate structures, to millions of Americans who previously lacked access," Edmund F. Murphy III, president and CEO of Empower said in the statement.