Axios Pro Rata: Private equity strikes back
Plus, corrugated consolidation. | Thursday, September 07, 2023 Open in app View in browser Axios Pro Rata By Dan Primack · Sep 07, 2023 Top of the Morning Illustration: Aïda Amer/Axios Private equity got almost everything it wanted when securities regulators watered down their new fund oversight rules. Now it wants the rest. Driving the news: Six trade groups, including the American Investment Council and National Venture Capital Association, last week filed a lawsuit seeking to block the SEC from implementing its Private Fund Advisers rule. Their basic argument, put forth by lead attorney Eugene Scalia, is that the SEC overstepped its authority to regulate private funds. Retail investors are novices in need of protection, but limited partners in private funds are sophisticates backe...