Alternative asset managers just notched a key win in their effort to tap into trillions of US retirement dollars.
Now comes the hard part.
As private credit struggles with an investor exodus and private equity grapples with its worst returns in years, the US Department of Labor on Monday proposed rules governing how retirement-plan administrators should evaluate those alternative assets as well as cryptocurrencies in their investment lineups. The subtext: Be vigilant.
Plan sponsors “will absolutely keep a close eye on what they’re investing in,” said Daniel Cahill, head of US defined contribution at