Private Market Growth & Investor Access - Private markets have significantly expanded over the past 30-40 years, offering capital through venture capital, private equity, and private credit [2][3] - There's substantial investor demand for access to private markets, but SEC regulations have historically posed challenges [3] - The industry aims to collaborate with the Department of Labor to establish guidelines for individual investors to include private funds in their retirement plans [4] Concerns & Safeguards - Key considerations for private funds include valuation, liquidity, and fees [4] - The industry emphasizes the need for fiduciaries to guide individual investors in incorporating these products into long-term savings and retirement plans, ensuring appropriate safeguards [5] - Historically, private companies haven't been included in 401k plans due to differing disclosure requirements compared to public companies [1]