Apollo CEO Marc Rowan expressed support Tuesday for an expected move by U.S. President Donald Trump to encourage more retail retirement funds to be channeled to private markets.

"I believe we are on the cusp of being able to serve the 401(k) and the defined contribution marketplace," Rowan told analysts on a conference call, referring to popular type of account where people can save with support from their employers.

"I expect there to be significant proposed changes to the regulatory landscape to make this easier. This, to me, is common sense," Rowan added.