Summary List PlacementVanguard, the asset manager best-known for its low-cost passive fund offerings, has moved a step closer to its eventual goal of bringing private equity, an asset class that historically has been accessible only to the most sophisticated investors and institutions, to retail investors. The $7.5 trillion manager is raising for its second private equity fund, which will be available to individual accredited investors. Vanguard made its first foray into private equity in February 2020 through a partnership with private equity fund-of-funds HarbourVest Partners.