Private equity to lobby Trump for access to savers’ retirement funds

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Financial Times 1d ago

Private equity to lobby Trump for access to savers’ retirement funds - Financial Times

Quick Summary:

The executives said that the effort could give their higher-fee funds a chance to tap a class of investors with at least as much in assets as the sovereign wealth funds, pensions and endowments that have traditionally backed the world’s largest groups such as Blackstone, Apollo Global and KKR.

They also generally carry higher fees and have performance metrics that can be harder to evaluate.“We’ll look for opportunities to allow the average investor, if they want to, to diversify their portfolio and have the same access that wealthy individuals do to a private fund,” said one Washington lobbyist.“There are 4,000 publicly traded [US] companies.

The private equity industry is preparing to lobby the incoming Trump administration to give it access to broad pools of capital it has not historically been allowed to tap, including retirement savings, in a move that could unlock trillions for their firms.