Story perspectives

Trump's Move Opens Risky Private Markets to Households

10/30/2025

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Summary

Story summary

In October 2025, U.S. President Donald Trump opened private equity and credit markets to individual households through retirement accounts.
The move raises concerns about risk management and disclosure in these private markets, which could affect retirement savings.
Blackstone Inc. and Ares Management Corp. view the development as an opportunity despite the First Brands Group bankruptcy.
Policymakers are urged to address these risks as access to private markets expands.

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Story summary

In October 2025, U.S. President Donald Trump opened private equity and credit markets to individual households through retirement accounts.
The move raises concerns about risk management and disclosure in these private markets, which could affect retirement savings.
Blackstone Inc. and Ares Management Corp. view the development as an opportunity despite the First Brands Group bankruptcy.
Policymakers are urged to address these risks as access to private markets expands.