Private Fund Update - October 28, 20133

Last week, the House Financial Services Committee held a hearing on potential JOBS Act 2.0 legislation, including legislation to modernize business development companies (BDCs). Also of note, the Private Equity Growth Capital Council released a report showing PE returns outperforming all other asset classes over a 10-year time horizon for large public pension funds, and Treasury released a report on its Small Business Lending Fund.

This week, the Senate Banking Committee will hold a hearing on JOBS Act implementation and the CFTC will hold a hearing to consider a proposal to impose position limits on the use of derivatives.

This Update contains:

• A summary of the House Financial Services hearing on legislation to reduce impediments to capital formation;