Industry GuidanceLegislation & RegulationSEC Private Fund Advisers Rule

SEC Private Fund Advisers Rule

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Since the rule was first proposed in February 2022, ILPA has steadily engaged with our members, the SEC and other industry participants on the rule and its potential impact on LPs.

Below, find the different elements of our engagement, including our initial comment letter to the SEC, our analysis on the proposed rule The Future of Private Equity Regulation, our most recent overview of what’s included in the final rulemaking and our plans in the days ahead for further unpacking what’s contained in the package.

The full collection of data and perspectives we’ve captured from LPs throughout this process—through surveys, roundtables, one-on-one conversations and more—are available in The Future of Private Equity Regulation and accompanying data packet. These perspectives have been instrumental in direct, repeat conversations we’ve had with the SEC to advocate on behalf of LPs and a stronger private markets industry.

In the days ahead, we’ll conduct a more thorough analysis to understand the full implications of the final rule, particularly for our member LPs and the millions they serve. And, as we have for over 20 years, ILPA will continue to convene the industry to work collectively to address the challenges we share.

Contact: [email protected] with questions