Hedge Funds Obama Plan
Hedge Funds Could Be Hurt by Obama's Plan
"Although the full implications of Obama's statement remain unclear, the potential disruption that such widespread reform could bring to the alternatives industry is significant, and could affect hundreds of banking institutions in the U.S. investing in alternatives," Preqin's Tim Friedman said.
If Europe follows the U.S. lead, it could have a big impact on powerful investment houses in the region's banks. If restrictions are limited to the U.S. there would still be a knock-on effect in Europe and Asia because many U.S. banks also invest in funds in those regions.
Tim Syder, deputy managing partner of U.K. buyout firm Electra, said a similar move in Europe would have a greater affect at the top end of the private equity market
Meanwhile, hedge funds worldwide may be hit by Obama's plans, say experts.
While U.S. banks are relatively small direct investors in hedge funds, representing just 0.9% (approximately $10 billion) of the total capital invested by U.S. investors, the wider effects of the proposal could be much greater, said Preqin's Friedman. Source
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