More than 1,500 advisers to private funds and hedge funds have registered with the Securities and Exchange Commission since new requirements for doing so were included in the Dodd-Frank Act.
The SEC’s tally, announced on Friday, is in addition to 2,557 private fund advisers who had already voluntarily registered. In total, 11,002 investment advisers are SEC-registered. In accordance with the Dodd-Frank Act’s requirement that mid-sized advisers (managing less than $100 million of assets) move from federal to state oversight, roughly 2,300 of them made that transition prior to a June 28 deadline.
