Hedge Funds’ Secret Weapon to Fight the SEC Lives in Texas
The strategic address of the National Association of Private Fund Managers gives it a huge advantage as it pushes back against federal regulations.
The National Association of Private Fund Managers based in Texas is challenging the SEC.
Photographer: David Paul Morris/BloombergThe most powerful weapon that hedge funds have against regulators like Securities and Exchange Commission Chair Gary Gensler is no longer white-shoe lawyers or silver-tongued lobbyists. It’s an address in Texas.
The National Association of Private Fund Managers, a little-known group whose main focus appears to be challenging SEC rules, has sat tucked in a Fort Worth law office since its founding in 2022. Its home is 1,500 miles from many hedge fund campuses in leafy Connecticut, and even further from London or Singapore, where its impact is being felt.