by Eric Salzman

I have worked in capital markets for three decades, and Wall Street has some unflattering names for the retail investor.

Dumb Money.

Slow Moving Deer.

Ray Charles Buyers (Because Ray was blind).

In other words, such investors have been the Rodney Dangerfield of investment money. No respect.

Still, the private equity industry has long dreamed of getting access to the trillions of dollars of retail money, and now it might just get it.

The industry is pushing President Trump to issue an executive order that would, according to the Financial Times, direct the Securities and Exchange Commission and the Departments of Labor and Treasury to "study the feasibility of opening 401k plans" to private equity investment.

This happens to coincide with a period when private equity management firms are particularly desperate. Investors are clamoring for their money while funding for future investments is drying up. The PE industry may not respect the retail investor, but now it needs their cash as opposed to just wanting it.