Alternative Assets: Hedge Funds and Private Equity Funds

• Semester: Spring 2026
• Course ID: 296W
• Credit Hours: 2
• Unique: 29870

Description

Alternative asset classes, particularly hedge funds and private equity funds, play an increasingly central role in the global economy. Total alternative assets under management surpassed $22 trillion in 2024, a more than fourfold increase from 2008, and are expected to surpass $30 trillion by 2030. Hedge funds and private equity funds represent more than 50% of these assets, with the remainder comprised of private credit, real estate, venture capital, infrastructure and natural resources. This explosive growth has been accompanied by an increased institutionalization of the industry, a highly-developed regulatory environment and a significant rise in public scrutiny. As a result of this growth, it is critical to have a foundational understanding of alternative assets in today's financial industry. This includes their impact from an economic, practical, legal and regulatory perspective.

This course will provide a comprehensive review of the legal and regulatory framework related to private funds, particularly in relation to structuring, documentation, disclosures, tax considerations and compliance. Areas of focus will include relevant federal securities, tax and pension plan laws, case history and agency actions. This course also will include a critical analysis of related policy issues and topics, including insider trading, rule-making versus enforcement as a means of regulation, the collapsing of private and public investing, preferential tax treatment and stakeholder capitalism. In addition, the course will analyze the various roles lawyers play throughout the industry as well as the range of potential career paths.