Rules adopted under the Dodd-Frank Act require advisers to private funds with at least $150 million in assets under management to periodically file Form PF with the Commission. Due to the rolling compliance dates the SEC adopted for Form PF, the SEC has only recently received a complete set of initial filings. A July 25, 2013 report to Congress by the staff of the SEC’s Division of Investment Management disclosed that 2,305 advisers are currently filing Form PF with the SEC. Those advisers advise 18,015 funds, broke down as follows: 6,683 hedge funds; 5,928 private equity funds; 2,922 funds categorized as “other private fund types”; 1,121 real estate funds; 966 securitized asset funds; 329 venture capital funds; and 66 liquidity funds. The report can be found here: http://www.sec.gov/news/studies/2013/im-annualreport-072513.pdf.
