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S3671119th CongressWALLET

Increasing Investor Opportunities Act

Sponsored By: Senator Steve Daines

Introduced

Summary

Allows closed-end funds to invest in private funds. This bill would let closed-end investment companies, including business development companies that opt in, invest any or all of their assets in private funds and limits the SEC and national exchanges from blocking those investments or imposing conditions tied to the private fund status.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

More investment options for investors

If enacted, the bill would let closed-end investment companies invest some or all of their assets in securities issued by private funds. The Commission would not be able to prohibit or limit those investments or to impose conditions on the offer, sale, or listing of their securities, except for restrictions unrelated to a private fund's underlying characteristics and subject to other limits in this bill. National securities exchanges would not be able to block listing or trading of those securities unless their rules are consistent with the bill's limits. The bill would add legal definitions for "private fund" and "closed-end company," and it would confirm that fiduciary duties and valuation, liquidity, and redemption rules stay the same.

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Sponsors & CoSponsors

Sponsor

Steve Daines

MT • R

Cosponsors

  • Mike Rounds

    SD • R

    Sponsored 1/15/2026

Roll Call Votes

No roll call votes available for this bill.

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