The democratization of private equity could create a “systemic risk machine”

In March, BlackRock CEO Larry Fink said he’d like to see more individual investors get access to private assets that have long been “locked behind high walls, with gates that open only for the wealthiest or largest market participants.” That’s a tempting prospect for retail investors who’d like to get the same kinds of returns as billionaires and hedge funds. And private equity firms are increasingly eager to give ordinary Americans the chance to, as one investment platform puts it, “invest like the 1 percent.” READ MORE