Principal Financial Group as a 401k administrator

I recently started with a company that uses Principal as its 401K admin. I knew trouble was afoot when I started reviewing the funds in which I was going to invest my 401K contribution.  All the funds are 'private', i.e., not regulated by the SEC, and they do not provide a prospectus (nor offer much information about the funds). The pool of funds is small - about 2-dozen. No money market funds. One fund is a real estate fund that has a history of refusing sell orders until months have passed. The expenses for their funds are 2-3 times higher...