SEI released its 2013 private equity survey Tuesday titled "Key course adjustments for breaking through: 5 ways private equity managers can optimize their competitive advantage." Among the findings was that the overwhelming majority of institutional investors (69.8%) and consultants (81.6%) surveyed said that lower management fees are the key to gaining a larger commitment to a private equity fund. Lower incentive fees ranked second among investors. Interestingly, more than 47% of consultants cited increased reporting transparency, compared to only 29% of institutional investors. In a separate question, participants were asked if they receive all the information they would like from their private equity managers - 50% of consultants and 48.4% of investors said no.