It is unclear what repercussions a Trump presidency will have on private equity. Its proposed repeal or dilution of the Dodd-Frank Act should encourage lending from banks, although that could negatively affect non-bank lending activities. Trump has also proposed to tackle the generous tax treatment of carried interest, the traditional freebies for PE dealmakers. Regardless, if fund managers have a choice in the matter, the sector has a great future.

Private Equity
Since 2008, private equity, hedge funds and private debt have continued to gain market share in...

