The House has passed H.R. 3383 - Increasing Investor Opportunities Act. This bill was introduced by Representative Ann Wagner.
The vote was 267-159.
You can track corporate lobbying on this bill and relevant congressional stock trades on Quiver Quantitative's H.R. 3383 bill page.
Here is a short summary of a June 25, 2025 version of the bill.
H.R. 3383 - Increasing Investor Opportunities Act Summary
This bill, titled the Increasing Investor Opportunities Act , aims to amend existing regulations concerning closed-end companies and their ability to invest in private funds. Here is a summary of its main components:
Closed-End Company Authority to Invest in Private Funds
The bill allows closed-end companies to invest their assets in securities issued by private funds without restrictions or prohibitions from the Securities and Exchange Commission (SEC), except as specified by the Act itself or any related rules. Key points include:
- Closed-end companies can use their assets to invest fully or partially in private funds.
- The SEC cannot limit or condition the sale or listing of securities for closed-end companies based on their investment in private funds, as long as such conditions are not related to the private fund's nature.
Definition of Private Fund
The legislation clarifies the definition of a "private fund" by referencing existing definitions under the Investment Advisers Act of 1940.
Treatment by National Securities Exchanges
The bill outlines that national securities exchanges cannot prohibit or restrict the listing of closed-end company securities based on their investment in private funds, barring certain conditions consistent with existing laws.
Investment Limitation Changes
The bill modifies limitations on potential investments for closed-end companies, allowing them increased flexibility to invest in private funds as part of their overall strategy. It introduces provisions that adjust certain limits previously set on investments by closed-end companies.
Rules of Construction
The bill specifies that it does not change existing fiduciary responsibilities or investment obligations of closed-end companies or their advisers, nor does it alter the valuation, liquidity, or redemption requirements imposed by the Investment Company Act of 1940.
Overall Purpose
The overall goal of the legislation is to enhance the investment opportunities for closed-end companies, allowing them more avenues to seek returns for their investors. By facilitating investments in private funds, the bill aims to provide closed-end companies with greater flexibility in their investment strategies.
Relevant Companies
- GS - Goldman Sachs Group, Inc.: As a firm that engages in asset management and investment banking, Goldman Sachs could see increased participation in managing private funds that attract closed-end companies.
- BLK - BlackRock, Inc.: BlackRock, as one of the largest asset management firms, may see a rise in demand for private funds due to increased investment from closed-end companies.
This article is not financial advice. Bill summaries may be unreliable. Consult Congress.gov for full bill text. See Quiver Quantitative's disclaimers for more information.
Representative Ann Wagner Bill Proposals
Here are some bills which have recently been proposed by Representative Ann Wagner:
- H.R.4831: ENFORCE Act
- H.R.4429: Developing and Empowering our Aspiring Leaders Act of 2025
- H.R.4149: Upholding the Dayton Peace Agreement Through Sanctions Act
- H.R.3383: Increasing Investor Opportunities Act
- H.R.3382: Small Entity Update Act
- H.R.3381: Encouraging Public Offerings Act of 2025
You can track bills proposed by Representative Ann Wagner on Quiver Quantitative's politician page for Wagner.
Representative Ann Wagner Net Worth
Quiver Quantitative estimates that Representative Ann Wagner is worth $26.5M, as of December 11th, 2025. This is the 49th highest net worth in Congress, per our live estimates.
Wagner has approximately $10.2M invested in publicly traded assets which Quiver is able to track live.
You can track Representative Ann Wagner's net worth on Quiver Quantitative's politician page for Wagner.
Representative Ann Wagner Stock Trading
We have data on up to $500.0K of trades from Representative Ann Wagner, which we parsed from STOCK Act filings.
You can track Representative Ann Wagner's stock trading on Quiver Quantitative's politician page for Wagner.
