Key Takeaways
- • According to the Schroders 2026 U.S. Retirement Survey, 52% of 401k, 403b or 457 plan participants say they would invest in private equity and private debt if their plan offered access, up from 45% in 2025 and 36% in 2024.
- • 81% of those interested retirement savers would increase their contribution rate if private assets were offered, up from 77% in 2025.
- • 42% of plan participants expect private assets to be available in their workplace plan within five years, up from 30% a year earlier.
- • Only 23% of plan participants consider themselves very knowledgeable about private assets, nearly double the 12% reported in 2025.
- • Among interested participants, 49% would allocate under 10% of workplace retirement assets to private assets, while 39% would allocate 10-15%.
Summary
A Schroders survey of U.S. investors finds growing appetite among workplace retirement savers for private market exposure in their 401k, 403b and 457 plans. According to the Schroders 2026 U.S. Retirement Survey, 52% of plan participants would invest in private equity and private debt if their plan provided access, compared with 45% in 2025 and 36% in 2024. Among these savers, 81% would raise their contribution rate if private assets were offered, up from 77% a year earlier.
Participants' expectations about availability are also rising. Per the survey, 42% now expect private assets to appear in their retirement plan within the next five years, up from 30% a year ago. Plan participants largely view the asset class favorably: 78% believe private assets can enhance 401k portfolios through diversification, and 77% see an opportunity for greater investment return. Intended allocations remain measured. Of the 52% willing to invest, 49% would allocate less than 10% of workplace retirement assets, 39% would allocate between 10% and 15%, 7% would allocate more than 15%, and 5% are unsure.
Knowledge remains a constraint. Just 23% of participants describe themselves as very knowledgeable about private assets, nearly double the 12% recorded in 2025, while 40% say they are somewhat knowledgeable and 37% say they are not too or not at all knowledgeable. Deb Boyden, Head of US Defined Contribution at Schroders, said regulators are moving to expand access as new fund structures are developed to improve liquidity and transparency, and that rising demand places responsibility on plan sponsors and asset managers to ensure savers understand the asset class and how it fits a long-term retirement strategy.
The survey was conducted by 8 Acre Perspective among 1,500 U.S. investors ages 30 to 79, including 615 workplace plan participants, between March 20 and April 15, 2026. Schroders notes that all investments involve risk, including loss of principal.
Participants' expectations about availability are also rising. Per the survey, 42% now expect private assets to appear in their retirement plan within the next five years, up from 30% a year ago. Plan participants largely view the asset class favorably: 78% believe private assets can enhance 401k portfolios through diversification, and 77% see an opportunity for greater investment return. Intended allocations remain measured. Of the 52% willing to invest, 49% would allocate less than 10% of workplace retirement assets, 39% would allocate between 10% and 15%, 7% would allocate more than 15%, and 5% are unsure.
Knowledge remains a constraint. Just 23% of participants describe themselves as very knowledgeable about private assets, nearly double the 12% recorded in 2025, while 40% say they are somewhat knowledgeable and 37% say they are not too or not at all knowledgeable. Deb Boyden, Head of US Defined Contribution at Schroders, said regulators are moving to expand access as new fund structures are developed to improve liquidity and transparency, and that rising demand places responsibility on plan sponsors and asset managers to ensure savers understand the asset class and how it fits a long-term retirement strategy.
The survey was conducted by 8 Acre Perspective among 1,500 U.S. investors ages 30 to 79, including 615 workplace plan participants, between March 20 and April 15, 2026. Schroders notes that all investments involve risk, including loss of principal.
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