AFL-CIO Wants SEC To Regulate IPO-Ready Funds

Law360, New York (August 6, 2007, 12:00 AM EDT) -- As private equity powerhouse Kohlberg Kravis Roberts & Co. LP and hedge fund Och-Ziff Capital Management Group LLC ready for initial public offerings, the AFL-CIO is demanding that the Securities and Exchange Commission regulate them as investment companies to protect the public.

In his Thursday letter to the SEC, AFL-CIO secretary-treasurer Richard Trumka said the companies' investment securities likely comprised more than the 40% of assets that require regulation under the 1940 Investment Company Act.

He noted first that Kohlberg Kravis had not sufficiently disclosed its...
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