Although rare in absolute terms, structural responses grew: at least part of the industry is increasingly changing the legal structure of its funds and closing funds to new investors in response to the post-2012 regulatory changes.
Source quote, verbatim
Most notably, the comparative data in Figure 4 suggest that at least a part of the industry is increasingly changing the legal structure of their fund(s) and closing funds to new investors in response to the regulatory changes
From
Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), IV.1. Adviser Response to Dodd-Frank, p. 35 https://ssrn.com/abstract=2739479 · source PDF
Cite as
Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479
Holds when
least common actions reported in the 2012 and 2015 surveys
rates doubled or tripled between the two surveys from a low base
Classification
empiricalsupport: evidencedempirical-evidence
Related claims
extendskaal:claim:2150377-021 Structural and portfolio level responses to registration were rare: only a minority of respondents severed an ...
supersedeskaal:claim:2732915-020 Private fund advisers in the sample did not terminate existing employment relationships, and only few severed ...
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