There are rumblings that Harvard's endowment plans to manage more of its money in-house after losses suffered by external managers, many in private equity.

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Firms that depend on external funds, such as bank loans or equity sales, are particularly vulnerable.

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Private equity on the continent is experiencing an unprecedented injection of external capital.

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The hope is that guidelines will make private equity more attractive to investors as well as staving off the possibility of external oversight.

ECONOMIST: Private equity

Over the past few years, the dollar has been strong mainly because foreign investors have been happy to finance America's external deficit, thanks to rapid economic growth and high returns, especially in its equity market.

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International equity investment managers long complained to me that the foreign exchange arrangements my public pension clients entered into with their custodians, which forced external money managers to settle such transactions with the custodian resulted in poor execution and diminished international equity performance.

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