Investing.com -- State Street Corp (NYSE: STT ).’s asset-management division, State Street Global Advisors, recently held preliminary discussions with Carlyle Group (NASDAQ: CG ) Inc., one of the largest US alternative investment firms. The talks revolved around the potential creation of a product that would merge public and private markets for individual investors, according to Bloomberg, citing people familiar with the matter.

The dialogue between the two financial giants occurred after State Street Global Advisors initiated contact with Carlyle, according to sources familiar with the situation. These sources requested anonymity due to the private nature of the talks.

Should these discussions result in a partnership, it would bring together one of the world’s leading money managers, State Street, and Carlyle, a prominent US alternative investment company. This union could significantly accelerate the private-capital industry’s pursuit of retail wealth.

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