The SEC is expanding retail investor access to private markets through new proposals, including allowing registered advisers to charge hedge fund-level fees and enabling individuals to qualify as accredited investors via exam. Publicly traded closed-end funds and ETFs now offer ways for retail investors to gain exposure to private companies like OpenAI and Anthropic, though these investments carry higher risk and longer timelines.
Apollo Global Management is planning to open a second headquarters in Florida or Texas, potentially relocating up to 1,000 employees from Manhattan. The move follows New York City's increasingly hostile business environment under Mayor Zohran Mamdani, including high taxes and attacks on business leaders, prompting major firms like Citadel to also consider relocating to more business-friendly states.