Private Equity and Hedge Funds After the Crisis: A Q&A with Author Timothy Spangler
February 18, 2014
Author Timothy Spangler, a law professor at UCLA and frequent contributor to Forbes, has a new book out (“One Step Ahead: Private Equity and Hedge Funds After the Global Financial Crisis“) that lays the groundwork for understanding the private equity and hedge fund landscapes following the 2008 financial crisis. He's been quoted by The Wall Street Journal, The New York Times, The Economist and now by the PitchBook Blog. PitchBook conducted a quick Q&A with Spangler, who touches on recent regulatory changes to the private equity and hedge fund industries and their futures in the post-crisis economy.
Q:Europe and the United States have both turned to increased regulation as a way of avoiding future financial crises going forward. Are there significant differences between the approaches of U.S. regulators versus E.U. regulators concerning alternative asset management? Is one more effective or burdensome than the other?
A: Overall, the European regulators take a more principled basis when regulating, while the U.S. has more of a check-the-box approach. Both regulators were keen to use the global financial crisis as an opportunity to significantly increase their regulatory reach. And in that regard, they were successful.