WTW, SEI Team Up on Private Markets for 401(k) Plans

U.S. 401(k) plans have traditionally favored publicly traded stocks and bonds because private assets bring higher fees, opaque valuations, limited liquidity and added fiduciary risk. Momentum shifted after President Donald Trump signed an executive order on Aug. 7, 2025 directing regulators to ease access to alternative assets in workplace retirement plans. The policy change has intensified demand for structures that can offer private-market diversification without compromising participant protections or routine account transactions.

WTW Investments and SEI said on Aug. 5, 2026 that they would jointly develop private-market investment offerings for U.S. defined contribution plans. The firms plan to combine professional portfolio management and a conservative allocation approach with daily liquidity, governance and oversight mechanisms designed for the 401(k) market. They did not disclose a capital commitment, target allocation percentage, fee structure or launch date, indicating that the initiative remains in the product-development stage.