After a difficult year, 2010 has offered much brighter opportunities for private equity firms. Buyout houses have started acquiring strong businesses again as lenders show more interest in backing leveraged deals. Venture capital firms have been more aggressive in seeking out technology investments. Furthermore, the IPO window has reopened for stable companies, with a number of listings this year. But in several countries across the globe, new regulations are in the works, which would require more transparency about the way funds are managed and investments are structured. Going forward, fund managers will face a greater compliance burden, with back office changes necessary to adapt.