Aug 7 (Reuters) - U.S. President Donald Trump will sign

an executive order on Thursday that aims to allow private

equity, real estate, cryptocurrency and other alternative assets

in 401(k)s, Bloomberg News reported on Thursday, citing a person

familiar with the plans.

The White House did not immediately respond to a request for

comment outside regular business hours. Reuters could not

immediately verify the Bloomberg report.

Such a move, if implemented, would be a boon for big

alternative asset managers like Blackstone, KKR

and Apollo Global Management ( APO ) by opening the $12 trillion

market for retirement funds known as defined contribution plans

to their investments.

However, critics say it could add too much risk to

retirement accounts like 401(k)s.

Trump will direct labor secretary Lori Chavez-DeRemer to

work with counterparts at the Treasury Department, Securities

and Exchange Commission (SEC), and other federal regulators to

determine whether rule changes should be made to assist in the

effort, Bloomberg reported.