The Securities and Exchange Commission (SEC) issued a notice about an application for an exemption from certain sections of the Investment Company Act of 1940. The application is from various companies, including Ares Capital Management and Ares Core Infrastructure Fund, seeking permission to offer multiple classes of shares with different sales fees for certain investment companies. The application was initially filed on January 8, 2025, and amended on February 28, 2025. The SEC will grant the requested relief unless a hearing is ordered, and interested individuals can request a hearing by April 7, 2025.
Simple Explanation
The SEC is thinking about letting a company called Ares and its partners use different rules for selling shares because they asked nicely. They will decide soon, and if people have questions or want to talk about it, they have until April 7, 2025, to ask for a chat.