Nearly 1400 Private Fund Advisers Registered Due to Dodd-Frank
The SEC’s Division of Investment Management released summary data indicating that 1,369 private fund advisers registered with the SEC as a result of the Dodd-Frank Act. The SEC reports that nearly 4,000 private fund advisers, advising over 30,000 private funds with $8 trillion in assets, are registered with the Commission. The SEC also reports that 32% of all registered advisers advise at least one private fund. Hedge funds comprise 53% of assets, and private equity funds represent 24%. Additionally, nearly 2,000 exempt reporting advisers filed Form ADVs as a result of Dodd-Frank. Although 2,400 advisers will transition to state registration, these advisers represent an immaterial decrease in assets supervised by the SEC.