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.