The Securities and Exchange Commission (SEC) has issued a notice about an application for an order under sections of the Investment Company Act of 1940. This order would allow certain business development companies and investment companies to co-invest in portfolio companies with certain affiliates, which would normally be prohibited. The SEC will grant the requested order unless a hearing is ordered; interested parties can request a hearing by May 12, 2025. The application was initially filed on March 14, 2025, and amended twice in April 2025.
Simple Explanation
The SEC is thinking about giving permission to some companies to invest in the same projects as their partner companies, which they usually aren't allowed to do. People can ask for a meeting to talk about this before May 12, 2025.