Is the PE industry any more ethical than the universal banks?
Ever since Mitt Romney failed to make the economic case for private equity during the last presidential campaign, PE’s public image has been battered even further.
Are 2 & 20 just not enough?
Are private equity types any different from hedge funders?
The SEC apparently doesn’t think so and, after excoriating the latter for flagrant securities law violations, the regulators are now training their sights on the former.
Secondary market offers permanent capital for managers and an exit option for investors
Before 2008, the secondary market for hedge fund interests was dominated by investors willing to pay a premium to gain access to closed funds.