Kirk Falconer

Petra Funds arrives as the weight of back-office burdens is set to grow. Regulators are starting to roll out proposals aimed at making private markets more transparent and leveling the playing field.

Gensler’s overarching goal, he said, is to 'bring more sunshine and competition to the private funds space.'

'In today’s environment, as prices continue to go up, our emphasis will be on keeping our head down and investing heavily in capabilities to create our own deal opportunities,' Sperling says.