President Trump is expected to sign an executive order directing the Labor Department and SEC to ease restrictions on 401(k) investments in private-market assets, the Wall Street Journal reported. The order is still under review and has not been finalized. If enacted, it could enable major private asset managers, such as Apollo and Blackstone, to access retirement savings from workers without traditional pensions. Private fund managers have urged the Trump administration to ease rules on retirement plan access, and firms such as Apollo and State Street have introduced target-date funds with private-market components. The push to open 401(k)s to private markets follows rising interest in private investments, especially among the world’s wealthiest individuals, who favor private credit.
