Private Equity Stock Evaluation (PESE) is a free service provided by the Private Equity Institute (PEI) that helps private equity investors find private companies. PESE is unique compared with other private equity web sites in that companies are ranked according to investor interest and the amount of information provided by the companies. There is a separate "Sponsored Links" section of the site that lists private companies according to a "Google-like" fee based bidding system. Access to PESE is restricted to accredited investors or graduates of PEI that wish to use the site for research. PESE is designed for US investors and avoids the use of terms regulated by the SEC. It also attempts to comply with the prohibitions found in the Securities Act against "advertising or public solicitation" of unregistered shares by following the guidance laid out in the SEC Interpretation on "Use of Electronic Media."