The Securities and Exchange Commission (SEC) has issued a notice regarding a request for an order to allow certain joint investments. These investments involve business development companies and closed-end management investment companies working together with affiliated investment entities to invest in portfolio companies. The application was initially filed in April 2024, with amendments in October and December 2024. The SEC will grant the order unless a hearing is arranged, and individuals interested in requesting a hearing must do so by February 5, 2025. Further details can be found on the SEC's website or by contacting Taylor Evenson or Terri Jordan at the Division of Investment Management.
Simple Explanation
The SEC is saying that some groups want permission to work together to put money into companies, and if no one objects by February 5, 2025, they'll let them. They didn't explain much about why this is okay or how it helps people who might invest, so it might be hard to understand what's going on.