March 30, 2026 (Washington, D.C.) – Following a U.S. executive action last August, the U.S. Department of Labor released proposed rules outlining how alternative assets could be incorporated into 401(k) plans as part of a broader effort to expand access to the private markets. This announcement advances a multi step regulatory process that ILPA is tracking closely.
In the days ahead, ILPA will closely review the proposed regulations to understand the opportunities and challenges they may present for our institutional investor members and the private markets ecosystem more broadly.
“As the push to expand participation in private markets accelerates, ILPA remains focused on ensuring that our members, Limited Partners who represent hundreds of institutions around the world and have been foundational in building this asset class, have the clarity, context, and tools they need to navigate the significant structural implications of this shift,” said ILPA CEO Jennifer Choi.
“Expanding access introduces new dynamics in allocation, liquidity, incentives, valuations, and governance that can materially influence institutional fund operations and long‑term market health. Our role is to help LPs understand how these developments intersect with their existing portfolios and GP relationships, and we look forward to providing additional analysis as our review continues.”
