Private Equity Targets America’s $14 Trillion 401(k) Market

What was once a glossless business has since become a prize for buyout firms, which see the steady growth of the $14 trillion market for US defined-contribution retirement plans as a potential source of juicy returns. … Some buyout shops see profit in handling retirement plans and ancillary businesses. Others see higher-end wealth management and its more lucrative fees as an attractive target at a time when the rich keep getting richer.