President Trump signed an executive order to establish a US sovereign wealth fund aimed at promoting fiscal sustainability, reducing tax burdens, and ensuring long-term economic security. The Treasury and Commerce Secretaries have 90 days to devise a plan for funding mechanisms, investment strategies, governance, and structure. The federal government holds significant assets that could be leveraged for wealth generation. This fund may provide opportunities for private equity managers, similar to existing state-level funds like Alaska’s. While the fund may prioritize strategic over commercial investments, private equity is expected to play a crucial role in achieving long-term returns.