Search Results for keywords:"business development companies"

Found 18 results

Search Results: keywords:"business development companies"

💰 Only
Oldest Newest
  • 2021-02687 — Submission for OMB Review; Comment Request
    💰
    Type:Notice
    Citation:86 FR 8933
    Reading Time:about 3 minutes

    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.

    Simple Explanation

    The Securities and Exchange Commission (SEC) wants to keep using a special form to help companies share important information when they are working with new partners or getting bigger. They're asking for public thoughts on how this form can be better and easier for companies to fill out.

  • 2024-30069 — First Eagle Private Credit Fund and First Eagle Investment Management, LLC
    Type:Notice
    Citation:89 FR 103916
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has issued a notice about a request from the First Eagle Private Credit Fund and First Eagle Investment Management, LLC. They are asking for permission to allow certain investment companies that are organized as business development companies to issue different classes of shares with varying sales charges and fees. This request is being made under specific sections of the Investment Company Act of 1940. The public can request a hearing on this matter by contacting the SEC before January 7, 2025.

    Simple Explanation

    The SEC is thinking about letting a group of companies sell different types of shares, which means people could pay different amounts of money based on their choice. People who care about this can ask to talk about it with the SEC by early January 2025.

  • 2025-04110 — MA Specialty Credit Income Fund, et al.
    Type:Notice
    Citation:90 FR 12195
    Reading Time:about 2 minutes

    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.

    Simple Explanation

    The SEC is thinking about letting some companies team up to invest together in things they normally couldn't, like people working together on a big project. They're deciding if this is okay, and people can tell the SEC if they have thoughts about it by April 7, 2025.

  • 2021-01655 — Submission for OMB Review; Comment Request
    💰
    Type:Notice
    Citation:86 FR 7320
    Reading Time:about 2 minutes

    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.

    Simple Explanation

    The SEC wants to keep using a form that lets certain companies tell them they want to be part of a special group that follows certain rules. This form takes a little bit of time and money to fill out, and people can say what they think about it.

  • 2025-02917 — AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC
    Type:Notice
    Citation:90 FR 10107
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemption from certain sections of the Investment Company Act of 1940. AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC are seeking permission to allow business development companies to issue multiple classes of shares with different sales charges and fees. The application was initially filed in July 2024 and has been amended twice since then. Interested parties have until March 13, 2025, to request a hearing on the application.

    Simple Explanation

    The Securities and Exchange Commission is thinking about letting two companies, AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC, sell different kinds of shares with different prices and rules, which isn't normally allowed. They have asked for permission to do this, and people have until March 13, 2025, to say if they want to talk more about it.

  • 2025-02130 — Application: BlackRock Company Act Release
    Type:Notice
    Citation:90 FR 8819
    Reading Time:about 33 minutes

    The Securities and Exchange Commission (SEC) has issued a notice regarding an application for an order under the Investment Company Act. The application seeks permission for certain business development companies and closed-end management investment companies to engage in joint investments with affiliated investment entities, which would otherwise be restricted by the Act. The applicants involve a large number of entities connected to BlackRock, requesting the SEC to allow them to co-invest in various portfolio companies. The notice also provides procedural details for requesting a hearing on the matter, if interested parties, by emailing the SEC and providing proof of service to the applicants.

    Simple Explanation

    The SEC is looking at a request from BlackRock to let certain companies work together on investments, even though they usually couldn't because of the rules. This notice also tells people how they can ask for a meeting to talk about it if they want.

  • 2025-00886 — HarbourVest Private Investments Fund, et al.
    Type:Notice
    Citation:90 FR 4821
    Reading Time:about 30 minutes

    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.

  • 2024-30655 — MidCap Financial Investment Corporation, et al.
    Type:Notice
    Citation:89 FR 105167
    Reading Time:about 26 minutes

    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.

    Simple Explanation

    The SEC is thinking about letting some investment companies team up to invest in other businesses, which they usually can't do. People can ask to talk about this by January 13, 2025.

  • 2024-30857 — Morgan Stanley Direct Lending Fund, et al.
    Type:Notice
    Citation:89 FR 106644
    Reading Time:about 4 minutes

    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.

    Simple Explanation

    The SEC is thinking about letting Morgan Stanley's companies team up and invest together in other businesses, something they usually aren't allowed to do. If no one says they want to talk about it by January 13, 2025, they might be allowed to go ahead.

  • 2021-02468 — Muzinich BDC, Inc., et al.
    Type:Notice
    Citation:86 FR 8667
    Reading Time:about 55 minutes

    The Securities and Exchange Commission (SEC) has received an application for an order permitting certain joint transactions involving business development companies (BDCs) and closed-end management investment companies. The applicants, including Muzinich BDC, Inc. and its associated entities, seek permission to co-invest in portfolio companies alongside affiliated investment funds. This involves transactions that are generally prohibited without SEC approval, ensuring fairness and compliance with investment regulations. The SEC will issue the order unless a hearing is requested by interested parties by a specified date.

    Simple Explanation

    Imagine some companies want to share a toy box (money to invest), but they need permission because there are rules to make sure everyone shares fairly. They asked a big group called the SEC to let them work together, and the SEC will say "yes" unless someone says they want to talk more about it.

123 Next