SEC’s Gensler Blasts Hedge Fund Fees as Agency Readies Rules (1)

Gary Gensler is again blasting hedge funds and private equity firms for the fees they charge investors, as the Securities and Exchange Commission plows ahead with plans to boost oversight of the private fund industry.

“Today, private fund advisers receive multiple levels and types of fees—from management to performance to portfolio company fees.,” the SEC chief said in remarks prepared for a Managed Funds Association trade group conference. “That’s not to mention consulting, advisory, monitoring, servicing, transaction, and director’s fees, among others.”

Gary Gensler, chair of the US Securities and Exchange Commission

Photographer: Al Drago/Bloomberg

Since taking over as the head of Wall Street’s main regulator two years ago, Gensler has championed ...