Wall Street Regulator Moves to Expand Access to Private Funds
Action Required: Monitor the SEC rulemaking process for final adoption and specific implementation requirements regarding performance fee disclosures.
The SEC has proposed a rule change that would allow registered investment advisors (RIAs) to charge performance-based fees of up to 20% for private funds, aligning them more closely with hedge fund fee structures. While this primarily impacts revenue models and product offerings, it represents a significant regulatory shift in how advisors can structure their private investment vehicles.
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