The Securities and Exchange Commission’s Division of Investment Management will host a “Private Markets Roundtable” on March 4, 2026, from 1:00 to 3:00 p.m. ET. The roundtable will continue the dialogue regarding retail access to private markets. As we have previously blogged, the President’s Executive Order regarding 401(k) assets requires SEC action. In addition, there are legislative initiatives, such as the INVEST Act, that, if advanced, would result in certain changes that would facilitate greater retail access to the private markets through registered funds. Based on the published agenda, the discussions will focus on governance, valuation, and related considerations associated with offering private market exposure through public investment vehicles, and will include two panels.
The first panel, “When Two Worlds Collide,” will examine migration of traditionally private asset classes into public fund structures and the resulting implications for managers, investors, and regulators.
The second panel, “Fund Governance,” will address compliance with Rule 2a-5, valuation challenges, and industry practices as managers respond to retail demand for private market strategies.
The event is intended to facilitate dialogue on how to promote responsible retail participation in the private markets. The event will be public and livestreamed on the SEC’s website. Read the SEC’s press release and agenda.