ICI Cheers as Private Markets Open Wider—Here’s Why It Matters in 2025

Wall Street's velvet rope gets a little looser.

The Investment Company Institute (ICI) just threw confetti over regulators' decision to expand retail access to private equity, venture capital, and other exclusive asset classes. But is this financial democratization—or just more crumbs for the masses?

Why the champagne popping?

Rule changes now let Main Street investors play in sandboxes previously reserved for the ultra-wealthy. No more waiting for IPOs to grab pre-unicorn equity or commercial real estate deals.

The fine print you'll ignore

Higher fees, lockup periods, and zero liquidity? But hey—at least your portfolio will sound cool at cocktail parties until the capital calls hit.

As always in finance: the house wins either way.

Investment Company Institute (ICI) President and CEO Eric J. Pan released the following statement regarding President Trump’s executive order encouraging increased access to private market investments for American retirement investors.

“ICI supports giving Americans the opportunity to access private markets through fund vehicles in their retirement plan accounts just as millions of Americans already benefit from private market investments through institutional pension funds.

Retirement savers are the ultimate long-term investors and would benefit from the diversification offered by the inclusion of private assets. We look forward to working with the WHITE House, Congress, the SEC, and the Department of Labor as they work to expand access to everyday investors.”

Source: ICI