private equity fund
(2) Hedge fund; private equity fund The terms “hedge fund” and “private equity fund” mean an issuer that would be an investment company, as defined in the Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq.), but for section 3(c)(1) or 3(c)(7) of that Act [ 15 U.S.C. 80a–3(c)(1) , (7)], or such similar funds as the appropriate Federal banking agencies, the Securities and Exchange Commission, and the Commodity Futures Trading Commission may, by rule, as provided in subsection (b)(2), determine.