June 17 (Reuters) - The wealth division of Morningstar has teamed up with Apollo Global Management, Franklin Templeton and J.P. Morgan Asset Management to launch a suite of portfolios that will give retail investors exposure to both private and public markets.

Here are some details:

-- Initial models will include exposure to private credit and real estate through interval funds, with those funds representing roughly 12% to 20% of the models' allocation, Morningstar said on Wednesday.

-- The portfolios, set to launch later this year, will be designed with exchange-traded funds and interval funds to make private markets accessible for individual investor portfolios.

-- The move comes as Wall Street firms increasingly focus on broadening access to private markets, which historically have been limited to institutional investors and ultra high-net-worth individuals.

-- "When I think about why private markets matter now more than ever, it's not just access but also focus on the long-term in a short-term world. We are living in an environment of persistent inflation and structural uncertainty," Franklin Templeton CEO Jenny Johnson said.

-- Morningstar's public/private select series will include six risk-based portfolios, ranging from capital preservation to aggressive growth.