This episode of PE Pathways features Dr. Jessica Wachter, former chief economist and director of the Division of Economic and Risk Analysis at the Securities and Exchange Commission (SEC), now a professor in quantitative finance at the Wharton School at the University of Pennsylvania. Hosted by Troutman Pepper Locke attorneys Ben Mittman and Genna Garver, the conversation explores Wachter’s experiences at the SEC during a period of active investment management rulemaking, including her insights on private fund advisor rules, the economic analysis behind regulatory proposals, and the impact of recent deregulatory trends under the current administration. The episode provides valuable perspectives on the evolving regulatory landscape for private funds, the importance of public comment in rulemaking, and practical advice for fund managers navigating compliance amid shifting priorities at the SEC.

One discussion point in this episode was the possibility of an executive order being issued by President Trump, directing the SEC and the Department of Labor to pave the way for making alternative assets a viable option in employers’ 401(k) plans. Since the recording of this episode, Trump issued such an executive order, titled “Democratizing Access to Alternative Assets for 401(k) Investors.”