Private equity firms should not be "singled out" for a "discriminatory and onerous" regulatory reporting regime, the lobby group for the private equity industry said in a letter to the U.S. Securities and Exchange Commission. The letter, dated April 12 and distributed by the industry group on Friday, was in response to proposed rules that would require registered investment advisors to file detailed information, such as how their portfolio companies are financed. The Private Equity Growth Capital Council (PEGCC) argues that private equity firms should not have to file "Form PF", as the information requested is "not pertinent to systemic risk". Moreover, it argues private equity firms do not themselves pose a systemic risk. PEGCC member firms include Blackstone Group (BX.N), Carlyle Group, Madison Dearborn and Sun Capital Partners.
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