State Street Global Advisors (SSGA), the asset management business of State Street Corporation, is launching its State Street Target Retirement IndexPlus Strategy, which will provide access to both public and private market exposures in a diversified strategy for defined contribution (DC) plans and their participants.
The strategy expands upon traditional target-date strategies by providing plan participants exposure to public markets through index strategies managed by State Street and exposure to a diversified portfolio of private markets investments via a pooled investment vehicle managed by Apollo. The Target Retirement IndexPlus Strategy will be managed by the firm’s Investment Solutions Group, which oversees more than $200 billion in global target-date assets. Each Target Retirement fund will target an allocation of 90% to public market exposures and 10% to private market exposures.
“State Street Global Advisors is focused on driving innovation and delivering solutions that meet the evolving needs of retirement investors,” said Brendan Curran, SSGA head of US Retirement. “By pairing our expertise and scale in target date strategies and index management with Apollo’s leadership in private market solutions, we are providing retirement savers with an innovative solution that delivers greater diversification and access to private markets exposures.”
“Investors are facing a greater need for diversification as they save for retirement, and Apollo is committed to helping develop solutions to meet that need,” said Steve Ulian, Apollo managing director, Defined Contribution and Retirement. “The private markets allocation within the State Street Target Retirement IndexPlus Strategy allows investors to gain immediate exposure to a broad portfolio of private market investments.”
The announcement comes on the heels of a turning point to the firm’s retirement strategies in 2025. Earlier this year, SSGA announced that its IncomeWise platform and related custom target-date strategies now have more than $20 billion in committed assets.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.