401(k) giant to allow private markets investments in its retirement portfolios

More retirement savers are about to see private markets investments in their portfolios.

The 401(k) giant Empower will start allowing private credit, equity and real estate in some of the accounts it administers later this year. The firm announced Wednesday that it has joined with seven firms to offer these investments, including Apollo Global Management and Partners Group.

Wall Street firms have been pushing to get private investments into the hands of individual investors, and they...