# kaal:claim:2739479-022

**Claim.** 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.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- least common actions reported in the 2012 and 2015 surveys
- rates doubled or tripled between the two surveys from a low base

**Source quote.**

> 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, page 35

**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

**Verify.** sha256 of source PDF `b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20The%20Post%20Dodd-Frank%20Act%20Evolution%20of%20the%20Private%20Fund%20Industry%20Comparative%20Evidence%20from%202012%20and%202.pdf

**Topics.** empirical-evidence

**Keywords.** fund-structure, closed-funds, strategic-response, survey-evidence, dodd-frank-act

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2150377-021
- supersedes: https://wulfkaal.github.io/claims/2732915-020

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.