Search Results for keywords:"business development companies"

The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) to continue collecting information through Form N-14 under the Paperwork Reduction Act. Form N-14 is used by investment companies and business development companies for registering securities during certain business transactions. The SEC estimates that about 253 filings are made each year, with considerable internal efforts and costs involved in preparing these forms. Amendments to Form N-14 aim to reduce the burden and costs for certain companies by allowing them to incorporate information by reference. Public comments on this information collection are encouraged and can be submitted within 30 days.

The Securities and Exchange Commission (SEC) has issued a notice for a proposed order under the Investment Company Act of 1940. This order would allow certain business development companies and closed-end management investment companies to co-invest in portfolio companies with each other and with affiliated investment entities, which would otherwise be prohibited under existing rules. The application for this order, involving multiple applicants like MidCap Financial Investment Corporation and Apollo Investment Management, has been filed and amended several times in 2024. Interested individuals can request a hearing by January 13, 2025, with specified instructions for doing so.

The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) to continue the use of Form N-54C under the Paperwork Reduction Act of 1995. This form allows business development companies to officially notify their withdrawal from being subject to specific regulations. The SEC estimates that around eight companies file this form annually, taking about one hour per submission. The total estimated cost for these filings, including outside professional fees, is about $3,504 annually. The public can view and comment on this information collection online.

The Securities and Exchange Commission (SEC) has received an application related to the Investment Company Act of 1940. This application seeks permission for certain business development companies and investment companies to jointly invest in portfolio companies alongside affiliated entities. The request necessitates an order exempting these joint transactions, which are typically restricted under current regulations. The public can request a hearing on this matter by reaching out to the SEC's Secretary by February 24, 2025.

The Securities and Exchange Commission (SEC) published a notice regarding an application from the Antares Strategic Credit Fund, Antares Private Credit Fund, and Antares Capital Credit Advisers LLC. They are seeking permission to allow certain registered closed-end investment companies, which operate as business development companies, to issue multiple classes of shares with different sales loads and service fees. The application was initially filed on March 10, 2025, and amended on March 14, 2025. Interested parties can request a hearing by April 8, 2025, by contacting the SEC.

The Securities and Exchange Commission (SEC) is considering an application from several investment companies and entities for an order that would allow them to make certain joint investments that are usually not allowed under existing rules. The order would permit closed-end management investment companies and business development companies to work together on investments in portfolio companies. This application was submitted in July 2024 and has been revised multiple times, most recently on March 3, 2025. Interested individuals can request a hearing regarding this matter by contacting the SEC and the involved parties by April 7, 2025.

The Securities and Exchange Commission (SEC) has issued a notice regarding an application from Thirdline Real Estate Income Fund and related entities. These applicants are seeking permission to engage in joint investment activities that are typically restricted by certain parts of the Investment Company Act of 1940. This application mentions the possibility of business development companies and investment companies co-investing in portfolio companies alongside certain affiliated investment entities. If there is no opposition, the SEC plans to grant the requested order, but interested parties may request a hearing by January 13, 2025, by following the specified communication procedures.

The Securities and Exchange Commission (SEC) has received a request for an order to allow specific business development companies and investment funds to co-invest in certain companies alongside affiliated investment entities, which is otherwise typically prohibited. The application, involving multiple entities connected to Morgan Stanley, was initially filed on January 29, 2024, and later amended on August 20, 2024. If no further hearing requests are received by January 13, 2025, the SEC will likely grant the relief sought. Interested parties can request a hearing via email and must serve the applicants with a copy of this request.

The Securities and Exchange Commission is considering a proposed rule change submitted by the Financial Industry Regulatory Authority, Inc. (FINRA). This change aims to exempt certain business development companies (BDCs) from existing restrictions on buying and selling initial public offerings (IPOs). Specifically, non-traded BDCs will be allowed to purchase new IPOs more easily, just like publicly traded BDCs and other investment companies. This move is designed to give these non-traded BDCs and their investors better access to diverse investment opportunities, potentially improving their portfolio balance and investments in new stock issues.

The Securities and Exchange Commission (SEC) has requested an extension for the information collection of Form N-54A, which investment companies use to notify the SEC of their election to be regulated as business development companies. This form is mandatory and aims to help the SEC administer specific provisions of the Investment Company Act of 1940. On average, about seven companies file this notification annually, with a total burden of 3.5 hours and an estimated cost of $1,288 to the industry. Public comments on the information collection are invited and can be submitted via the provided contact details.