Democratizing Private Markets: How Invesco and LGT Capital Partners Are Reshaping Access for U.S. Wealth and Retirement Investors

The private markets-long the domain of institutional investors and ultra-high-net-worth individuals-are undergoing a seismic shift. In 2025, Invesco and LGT Capital Partners announced a strategic partnership aimed at expanding access to these markets for U.S. wealth and retirement investors, leveraging their combined expertise to democratize opportunities in private equity, credit, and infrastructure. This collaboration represents a pivotal moment in the evolution of alternative investing, blending Invesco's deep private markets experience with LGT Capital Partners' global network of over 800 general partners. By doing so, the firms are not only redefining access but also reshaping the future of wealth management and retirement planning.

Strategic Partnership Dynamics: Combining Strengths for Scale

The partnership is rooted in a shared commitment to innovation and client-centric solutions. Invesco, which manages over $190 billion in private markets and $1 trillion in U.S. wealth assets, brings decades of experience in private real estate and credit according to data. LGT Capital Partners, with $120 billion in assets under management and a 25-year track record in multi-alternative portfolios, offers access to hard-to-reach segments like private equity secondaries and infrastructure as reported. Together, they aim to create a "multi-alternative" platform that simplifies access to asset classes previously reserved for institutional allocators.

This collaboration builds on Invesco's prior success in private markets, including its partnership with Barings, which demonstrated the firm's ability to deliver diversified alternatives to retail investors. For LGT Capital Partners, the alliance marks a strategic expansion into the U.S. market, where demand for alternative investments is surging. As stated by LGT Capital Partners, the partnership is a "significant step in strengthening our presence in the U.S. and enhancing our wealth management capabilities" according to company statements.

Market Access Innovation: Democratizing Alternatives Through Collaboration

The partnership's innovation lies in its operational and structural approach. By combining Invesco's client-facing expertise with LGT Capital Partners' access to 800+ general partners, the firms are creating a bridge between institutional-grade opportunities and retail investors. For example, LGT's active secondaries platform-a tool typically used by institutions to buy and sell private fund interests-will now be leveraged to offer liquidity solutions to a broader audience.

Moreover, the collaboration emphasizes investor education and portfolio solutions tailored to U.S. wealth and retirement investors. According to a report by NAPA-net.org, the partnership aims to simplify access through "industry-leading portfolio solutions" that address the unique needs of retirement investors, such as stable income generation and long-term growth. This aligns with a broader industry trend where traditional asset managers are integrating alternatives into mainstream offerings, as noted by Wealth Management in its analysis of the partnership.

Implications for U.S. Wealth and Retirement Investors

The partnership's focus on U.S. wealth and retirement channels is particularly significant. Private markets have historically been inaccessible to individual investors due to high minimums, illiquidity, and complexity. By developing multi-alternative solutions, Invesco and LGT Capital Partners are addressing these barriers. For retirement investors, the ability to allocate to private credit and infrastructure-assets with low correlation to public markets-can enhance diversification and generate stable cash flows as reported by LGT.

For wealth management advisors, the partnership offers a new toolkit to meet client demand for alternatives. As highlighted in a PR Newswire announcement, the firms plan to invest seed capital and expand access for advisors and plan sponsors, enabling them to offer previously exclusive opportunities to their clients. This democratization of private markets could accelerate the shift toward alternative allocations in both wealth management and retirement portfolios.

Conclusion: A New Era for Private Market Access

The Invesco-LGT Capital Partners partnership is more than a strategic alliance-it is a paradigm shift in how private markets are accessed and structured. By combining operational scale, global networks, and client-focused innovation, the firms are unlocking opportunities for a new generation of investors. As the demand for alternatives continues to grow, this collaboration sets a precedent for how traditional and institutional-grade assets can be made accessible to retail investors, redefining the landscape of wealth and retirement investing.