It's late August, and someone's groaning about a stack of homework that is causing an early, cruel end to beach season. High schoolers? Nope-the managers of America's largest private investment funds, who by Aug. 29 must file a new form providing the Securities and Exchange Commission and other federal regulators with detailed information on their operations. At 42 pages, with more than 1,000 data fields, Form PF is a chore to fill out and a threat to the secrecy in which hedge funds and private equity funds prefer to operate.
展开▼
