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.
