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SEC Chair Wants Transparency In Private Fund Investor Fees

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By Lauren Berg (November 10, 2021, 8:54 PM EST) — The chair of the U.S. Securities and Exchange Commission said Wednesday that the agency will consider how to bring more transparency to the fees and expenses that investors pay for private funds, including retirement plans, and to how the performance of such funds is measured.

Addressing members of the Institutional Limited Partners Association, SEC Chair Gary Gensler said private funds — particularly private equity and hedge funds — are growing in size, complexity and number, and having an impact on much of the American economy. He said it’s time to bring “more sunshine and competition” to the private funds space….