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.
The $13tn industry is hoping the new White House will revive a deregulatory push from the final months of Donald Trump’s first presidency, which allowed private equity investments to be included in professionally managed funds.
Now, the industry is seeking to push past that first step, allowing tax-deferred defined contribution plans such as 401ks to back unlisted investments such as leveraged buyouts, low-rated private loans and illiquid property deals, industry executives told the Financial Times.