Increasing Investor Opportunities Act
Sponsored By: Senator Daines, Steve [R-MT]
Introduced
Summary
This bill would let closed-end investment companies invest in private funds by preventing the Securities and Exchange Commission from prohibiting or limiting those investments. It also keeps fiduciary duties and basic valuation, liquidity, and redemption standards in place.
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- Closed-end investment companies: The SEC could not bar or limit a closed-end company from investing any or all of its assets in securities issued by private funds.
- Exchanges and listings: The bill prohibits the SEC from conditioning, restricting, or otherwise limiting offers, sales, or the listing and trading of closed-end company securities that invest in private funds, while allowing exchange rules that are consistent with the new law.
- Business development companies and safeguards: The protection applies to closed-end companies that elect treatment as business development companies and explicitly preserves fiduciary duties and core valuation, liquidity, and redemption requirements.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More private-fund options for closed-end funds
If enacted, closed-end investment companies would be allowed to invest some or all of their assets in securities issued by private funds. The bill would stop the SEC from blocking or conditioning the offer, sale, or listing of closed-end company securities that invest in private funds. It would also prevent national exchanges from prohibiting or restricting listings or trading of those securities, subject to exchange rules consistent with the Act. The bill would expand which investors and funds can rely on certain section 3(c) exemptions. It would preserve fiduciary duties and existing valuation, liquidity, and redemption requirements.
Sponsors & CoSponsors
Sponsor
Daines, Steve [R-MT]
MT • R
Cosponsors
Mike Rounds
SD • R
Sponsored 1/15/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov