US. Pension Funds Push for More Disclosure Rules for Private-Equity, Hedge Funds

Pension plans and other institutional investors are embracing a federal proposal that would force hedge funds and private-equity funds to provide more disclosures to investors. University endowments, insurance funds and retirement funds serving teachers and firefighters are urging the Securities and Exchange Commission to move forward with a proposed rule that would ensure private-fund investors receive annual audits and quarterly statements. The rule, which has been heavily criticized by the private funds and Republicans, would also prohibit fund managers from...