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Biden Administration Is Keeping a Close Eye on Private Equity and Other 'Alternative' Investments, CNBC

Wednesday, February 16, 2022

Partner Julie Stapel spoke to CNBC about the US Department of Labor’s recent memo that limits legal parameters provided by former Trump-era guidance for employers offering employees a 401(k) plan fund with an allocation to private equity. The notice cautions that those not already managing private equity for the company pension plan may not be best suited to do so. “They put more ‘guardrails’ about what the June 2020 letter said,” Julie said of the notice. “It’s not an endorsement or acceptance of widespread use of private equity…without that prior expertise and experience.”

Read the full CNBC article >>