“People usually think of the U.S. as leading [the private equity space], but the U.S. is lagging in structures," he said. "We see structures globally that are much more advanced and transparent in private equity where the main source is using public capital markets and using public disclosure in how they’re doing.
“I think you’ll see a structural push toward the regulated side [in the U.S.],” he added. “This space is changing quickly, and it’s similar to the REIT space some 20-25 years ago. There will be different structures in the end market based on liquidity needs and risk.