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Together they made it possible to raise $1.3 million in private equity for the development.

"It is another thing when you go to an investment bank and they do some private equity."

A secondary market could do the same for private equity.

"Private equity is changing the face of business today," he said in an interview.

Private equity is not a new area for law firms, but in some cases, the name or the status of the practice has changed.

Not everyone is convinced that the entire world will be taken over by private equity.

At the same time, however, private equity may be quicker than a public company to fire an executive if he is not getting results.

Venture Capital is really just private equity, but with a focus on earlier stage companies.

Last year, about $160 billion in private equity was raised, with venture capital making up more than half.

Since the 1980s he spent 13 years in private equity and investment banking.