Did the Dodd-Frank Act Impact Private Fund Performance? – Evidence from 2010-2015

Abstract

Title IV of the Dodd-Frank Act introduced the most significant regulatory change in the history of the private fund industry. To analyze the effect of Title IV on the private fund industry, we use five years of private fund performance data with over 7,000 reporting private funds. Our findings do not support the private fund industry’s claims that increased supervision and disclosure mandated in the Dodd-Frank Act have a negative effect on private fund earnings.