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 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.

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) 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 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.

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.

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.