SEC: More Than 4,000 Registered

Oct 22 2012 | 12:28pm ET

It took some arm-twisting for some, but U.S. alternative investment managers have now registered more than 4,000 vehicles with the Securities and Exchange Commission.

The regulator said Friday that some 4,061 private fund advisers, which include hedge funds and private equity funds, are now registered with the regulator. Hedge funds with more than $100 million in assets are now required to be registered by the Dodd-Frank financial regulation law, but most of the 4,061 didn't wait to be forced: Some 2,557 had voluntarily registered before they had to.

But 1,504 only registered after Dodd-Frank passed last year, including Cerberus Capital Management, Citadel Investment Group, Elliott Management, SAC Capital Advisors and Tudor Investment Corp.

"Prior to the Dodd-Frank Act, regulators only saw a slice of the pie but didn't know how big the pie even was," SEC Chairman Mary Schapiro said. "The law enables regulators to better protect investors by providing a more comprehensive view of who's out there and what they're doing."

The SEC also said that some 2,300 advisers with less than $100 million in assets have moved from federal to state regulation.


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