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1500 Hedge Fund Advisers Have Registered Since the Enactment of the Dodd-Frank Act

The SEC reported that 1,504 advisers to hedge funds and other private funds have registered with the SEC since the Dodd-Frank Wall Street Reform and Consumer Protection Act mandated such registration. Including the 2,557 private fund advisers who had registered previously, a total of 4,061 advisers to one or more private funds are now registered with the SEC.

A total of 11,002 investment advisers now are SEC-registered, with 37% advising hedge funds and other private funds. Assets under management at SEC-registered advisers has risen about $5.7 trillion, or 13%, even though the number of advisers fell about 15% as the Dodd-Frank Act required mid-sized advisers to move from federal to state oversight.

In addition, the Dodd-Frank Act required mid-sized advisers to move from federal to state registration by June 28, 2012. To date, more than 2,300 mid-sized advisers – those managing less than $100 million of assets – have made the transition to state regulation.

Click http://www.sec.gov/news/press/2012/2012-214.htm to access the release announcing the number of newly registered advisers.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.