New York City Comptroller/mayoral candidate William Thompson was on CNBC earlier today, and discussed the placement agent ban. Here’s the key quote:
“In some cases, [placement agents] are doing everything from the doing the PPM to almost the presentations to helping market around the country. Because a lot of these private equity funds, particularly the smaller ones and the mid-sized ones don’t have marketing sides, don’t know how to reach out. So in some instances, you could say it helps. We’re just going to beef up our staffs and work alone with our outside consultant to try to create better access.”