During the ten‑plus years that he spent at the SEC that culminated in serving as Co‑Head of the Private Funds Unit, Igor Rozenblit witnessed – and in many ways steered – the Commission’s evolution from private funds novice to mature, knowledgeable and formidable regulator. Throughout that time, the SEC centered its efforts on fundamental deficiencies in PE sponsors and other fund managers (e.g., conflicts of interest) while modifying its oversight to adjust to changes in the industry. After departing the Commission, Rozenblit has leveraged his experience with the regulator and his PE expertise to form Iron Road Partners, a new regulatory consulting firm. This two-part series offers Rozenblit’s unique perspective on the SEC’s regulatory efforts, as well as his post-SEC plans. This first article describes the focus of his consulting firm; his experience with the SEC; some of the Division of Examinations’ priorities; the Commission’s considerations around environmental, social and governance issues; and its concerns about special purpose acquisitions companies. The second article will provide an overview of the fund compliance practices garnering particular SEC scrutiny (e.g., valuation techniques and expense allocations) and guidance for how GCs and CCOs can bolster their efforts. See “SEC Examinations and Enforcement Officials Discuss Key Regulatory Issues for Investment Advisers” (May 18, 2021).