Private Equity Market Trends - Private equity firms face concerns about selling previous investments at good prices due to liquidity issues [1][2] - Public markets are trading at all-time highs, but private markets are not seeing the same success, partly due to timing and high purchase prices [2] - Prices of companies typically bought by private equity firms have deflated significantly, with trading multiples decreasing from 17-20x to 7-8x [3][4] - Lower asset prices create opportunities for fund managers to buy at attractive prices, but also make it harder to get liquidity [6] Alternative Investments in Retirement - Deploying capital is easier than realizing capital gains in the current market [7] - The US 401k market, a primary savings tool for Americans, has been largely locked out of private market investments [8] - Inclusion of private markets in 401ks requires regulatory changes [8][9] - Diversification through private markets is essential for a better retirement portfolio, especially given the concentration in public markets [10] Portfolio Construction and Risk Management - Pensions have driven returns through private markets [13] - A portfolio construction strategy involving heavier weighting in private markets for younger savers, gradually shifting to more liquid assets over time, is suggested [14][15] - Illiquidity of alternative investments is a concern, especially during market downturns, but can be managed through appropriate portfolio construction [11][12][14]

Regulatory Environment - Executive Order signed, potentially bringing crypto to 401k plans [1] Cryptocurrency & Retirement - Retirement is now "onchain," suggesting integration of blockchain technology [1] - Crypto integration viewed as a "huge move" and a "big win" for retirement savings [1]