Private assets currently make up less than 1 percent of the assets in 401(k) and other defined contribution plans, but some major asset managers and plan administrators aim to increase that share, according to CNBC.
“We are seeing institutions worldwide integrate both public and private markets, and in many cases, it has proven to be a strong investment,” said Larry Fink, chairman and CEO of BlackRock, at a retirement summit hosted by the company in March.
Fink believes incorporating private assets into the $12.5 trillion workplace retirement plan market is essential for greater portfolio diversification.
