Game Changers: The Players, Practices, and Federal Actions Behind the Evolution of the Private Fund Industry in the United States

Abstract

The private fund industry in the United States has been considered a trend in recent years or a gamble by both on Wall Street and Main Street. Regardless of what opinions are out there, the private fund industry represents a rich history of significance within the United States financial market. The industry has ridden the highs of the stock markets successes; including tactics such as leveraged buyouts and individuals like Victor Posner, and plummeted with its failures and cases of corruption including the Dotcom Bubble and individuals such as Michael Milken. This paper will provide a summary of the history and evolution of the private fund industry within the United States.