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The order would instruct agencies such as the departments of labour and Treasury and the Securities and Exchange Commission to study the feasibility of opening 401k plans, a primary vehicle for US retirement savings, to the private funds. Top industry executives predict that offering their funds to 401k retirement plans could attract hundreds of billions of dollars in new industry assets.
On Monday, Paul Atkins, chair of the SEC, said the regulator would “reconsider” prior restrictions on certain funds holding more than 15 per cent of their assets in private investments....
https://www.ft.com/content/aeda9848-67c1-482c-8ea3-f1063fa572ef
