SEC Private Fund Advisers Rules

In August 2023, the Securities and Exchange Commission released new regulatory guidance for private markets fund managers, with the stated goal of increasing transparency for limited partners and enhancing market efficiency. The new rules create a complex set of compliance challenges for private equity and venture capital general partners.

S&P Global Market Intelligence helps fund managers design compliant reporting processes that also enhance their efficiency and portfolio insights. With tools and services for data collection, valuation, and reporting automation, our solutions for private markets GPs deliver the investor transparency needed to build strong relationships with LPs.

• Valuation reporting and audit requirements: With required quarterly performance statements and annual audits, maintaining a strong asset valuation process is more important than ever. Our full-service valuation team provides efficient third-party valuations based on trusted data from S&P Global.
• Adviser-led secondary transactions: The new SEC rules require valuation or fairness opinions on certain secondary transactions, particularly those related to continuation funds. Get third-party valuation opinions to enhance transparency on transactions. 
• Quarterly fund performance reporting: A new standard set of minimum performance disclosures will require fund managers to adopt timely, repeatable reporting processes. With 700+ client firms, iLEVEL Software provides a single source of truth for GPs to monitor key portfolio metrics in an auditable, easy-to-access environment.