10:59 AM EDT, 05/14/2025 (MT Newswires) -- Empower said Wednesday it is collaborating with seven private investments fund managers and custodians on a new program that will provide private market investments within defined contribution retirement plans.

Empower said it has aligned with Apollo Global Management ( APO ) , Franklin Templeton (BEN), Goldman Sachs Group ( GS ) , Neuberger Berman, PIMCO, Partners Group and Sagard on the new venture.

"Private investments offered through these firms may be implemented through collective investment trusts (CITs), providing limited exposure to diversified pools of private equity, private credit and private real estate, a structure that is designed to provide liquidity protection and reduced fee exposure," Empower said.

"We're proud to partner with Empower to help clients build secure and prosperous futures, and we're excited to be at the forefront of this transformative change in retirement planning," Franklin Templeton Chief Executive Jenny Johnson said.

Apollo and Goldman Sachs ( GS ) did not immediately reply to requests for comment from MT Newswires.

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