Morningstar Wealth and Morningstar are launching model investment portfolios that combine public-market and private-market exposure. According to reports, the initiative will use capital and partnerships from several large financial firms, including Apollo, Franklin Templeton, and JPMorgan. The effort is described as a new approach to portfolio construction, aiming to make diversified allocations that include both publicly traded assets and private investments through model portfolios. The plan positions Morningstar as a provider of structured portfolio strategies, while the participating asset managers and financial institutions are expected to contribute underlying funds and investment capabilities. The coverage focuses on the product launch and the involvement of these firms, highlighting the public-private blend as the central feature. Additional details such as specific portfolio targets, availability, and timelines are not provided in the excerpts supplied here.