(Bloomberg) -- Oppenheimer & Co. agreed to pay about $2.9 million to settle claims by the U.S. Securities and Exchange Commission that it misled investors in a private-equity fund.

The portfolio manager of the Oppenheimer fund valued its largest investment at a “significant markup” to an estimated value, the SEC said in a statement today. The company also reached a settlement with Massachusetts Attorney General Martha Coakley for about $132,000.

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