The Big Take
Private Equity Is Coming for America’s $12 Trillion in Retirement Savings
Inside the push to change how every American’s nest egg is invested and make private assets mainstream.
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Less than a week before President Donald Trump’s second inauguration, more than 30 money managers gathered on Zoom to strategize about how to pull America’s retirement savers into investments far beyond stocks and bonds.
During the meeting attended by Blackstone Inc., UBS Group AG, Neuberger Berman and others, participants assembled a manifesto articulating private equity’s rightful position in 401(k) plans, including in the default portfolios for workers who don’t select their own investments.