As background, Form PF requires private fund advisers with at least $150 million in private fund assets under management to report certain information to the SEC at least annually and for a subset of large private fund advisers to provide more information on a more frequent basis.
The rule proposal makes changes in three principal areas including:
- Requiring current reporting by large private fund advisers for certain triggering events.
- Change reporting thresholds and require additional information to be reported by large private equity advisers.
- Require additional reporting by Large Liquidity Fund Advisers.