The Association for Corporate Growth released the ACG Private Equity Regulatory and Compliance Principles at its 2017 Middle-Market Public Policy summit in February. Three years in the making, the first edition of the PERC Principles was created to help midsize private equity firms manage the climate of ongoing regulation and increased compliance following the 2010 Dodd-Frank Act and other complex regulations surrounding issues such as cybersecurity, co-investments, valuations and the disclosure of fees and expenses.
“Middle-market private equity firms are confronted with a dizzying array of compliance requirements and information requests from investors, advisers and regulators—both domestic and foreign,” said April Evans, chief financial official with Monitor Clipper Partners and a member of ACG’s Private Equity Regulatory Task Force, which spearheaded the effort to develop the principles.
Evans continues, “Complying with these regulations, along with navigating the regulatory land mines for registered investment advisers, is an ever-increasing task.”
The PERT network of compliance and financial officers at some 50 member firms aim to represent the voice of middle-market private equity in Washington, D.C. The task force brings clarity to midmarket private equity firms around complex regulatory issues by forging dialogue with federal agencies and other influential regulatory bodies, including the Securities and Exchange Commission.
“These principles represent countless hours of discussion among PERT member firms, in addition to dialogue with industry regulators…[and] signify the importance that ACG members place as fiduciaries of their firms.”
Jason Brown, Partner of Victory Park Capital and ACG Global Chairman
“These principles represent countless hours of discussion among Private Equity Regulatory Task Force member firms, in addition to dialogue with industry regulators,” said Jason Brown, partner of Victory Park Capital and ACG Global chairman. “These principles signify the importance that ACG members place as fiduciaries of their firms.”
Read the PERC Principles here.
PERT is led by six industry practitioners including: Joshua Cherry-Seto, Blue Wolf Capital; Blinn Cirella, Saw Mill Capital; April Evans, Monitor Clipper Partners; David Gershman, Trivest Partners; Julianne Lis-Milam, Hammond, Whitney, Kennedy and Company, Inc.; and Bèla Schwartz, The Riverside Company.
To learn more about joining PERT, please contact Christine Melendes at firstname.lastname@example.org.