🇺🇸 NEW US CRYPTO BILL IS OUT:The Retirement Investment Choice Act is a law that would make Trump’s rule official. It allows people to include cryptocurrency and private equity in their 401(k) retirement plans. https://t.co/vdR19Jlq33 ...

U.S. Representative Troy Downing will introduce the Retirement Investment Choice Act this Tuesday, aiming to codify former President Trump’s executive order that allows 401(k) retirement plans to invest in cryptocurrencies and private equity. The bill has reportedly received joint support from four Republican lawmakers. https://t.co/wOkU0d3aQu ...

Paul Singer’s Elliott Investment Management escalated a legal fight with a Texas-based private equity firm it has accused of charging excessive expenses https://t.co/vswDG9Tcgi ...

Investment Strategy - The Trump administration aims to facilitate the allocation of 401(k) funds into alternative investments, including private equity and cryptocurrency [1] - Potential legal challenges pose a significant obstacle to this initiative [1]

Investment Strategy - Franchises are considering sovereign wealth funds as potential investors, favoring them over private equity firms [1] Industry Perspective - Washington Capitals owner Ted Leonsis advocates for franchises to embrace sovereign wealth investment [1]

Fundraising - StepStone plans to raise at least $7 billion for two secondaries funds [1] Market Trends - Demand for secondaries funds is increasing due to difficulties in exiting private equity investments [1]

Investment Strategy - Yale's private-equity strategy is becoming harder to implement [1]

NFL Ownership & Private Equity - Private equity is reshaping NFL ownership [1] - Miami Dolphins' President & CEO Tom Garfinkel discusses the league's biggest moves at Bloomberg PowerPlayers in New York [1] Event Information - Bloomberg PowerPlayers event took place in New York on September 4th [1]

Market Trends & Regulatory Landscape - The executive order signed last week aims to make it easier for 401(k)s to include alternative investments like private equity and crypto [1][15] - Regulatory clarity and direction from the SEC and DOL are crucial in the coming weeks and months [15][16] Investment Opportunities & Strategies - Defined benefit plans, pension funds, endowments, and foundations have been investing in private assets for 30 years with positive returns [4][5] - Empower has formed partnerships with several alternative managers to provide access to these strategies [6] - The approach is to allocate no more than 15% of assets to private assets, using a collective investment trust or target date type construct with a liquidity sleeve [10] - Defined contribution market could see an allocation to privates between 10% and 20% over the next 10 years, potentially becoming a $4-5 trillion market [14][15] Potential Risks & Considerations - There is a convergence happening between the public and private markets regarding valuations, potentially impacting performance [8] - Illiquidity of private investments raises concerns about accessibility for retirees needing immediate access to funds [8][9] - Fee structures for private alternatives are meaningfully higher than in the public space, and the true returns post-fees need consideration [13][14] Company Performance & Strategy - Empower has 19 million customers and $2 trillion on its platform [12] - Empower aims to provide access to private assets, with the fiduciary (plan sponsor, advisor, and investment consultant) determining timing and strategies [12][13]

A newly signed executive order by U.S. President Trump allows 401k retirement accounts to include alternative assets such as cryptocurrencies and private equity.Video Source: https://t.co/3gagQtWlt7 https://t.co/JEnlB2HiNE ...