Search Results for keywords:"closed-end management investment companies"

Found 7 results

Search Results: keywords:"closed-end management investment companies"

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  • 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.

  • 2025-02327 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendment No. 1, To Exempt Closed-End Management Investment Companies Registered Under the Investment Company Act of 1940 From the Annual Meeting of Shareholders Requirement Set Forth in Exchange Rule 14.10(f)
    Type:Notice
    Citation:90 FR 9175
    Reading Time:about 2 minutes

    Cboe BZX Exchange, Inc. proposed a rule change to the Securities and Exchange Commission (SEC) to exempt certain investment companies from the requirement to hold annual meetings for shareholders. This proposal, initially filed on June 25, 2024, included modifications made on July 2, 2024. The SEC extended its decision period multiple times before Cboe BZX withdrew the proposal on January 31, 2025.

    Simple Explanation

    Cboe BZX Exchange, a place where companies trade stocks, wanted to change a rule so that some types of companies wouldn't have to tell their owners what's happening every year. They changed their minds and decided not to go ahead with this plan.

  • 2025-03744 — ISQ Infrastructure Income Fund and I Squared Capital Registered Advisor LLC
    Type:Notice
    Citation:90 FR 11636
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) is considering an application from the ISQ Infrastructure Income Fund and I Squared Capital Registered Advisor LLC for an exemption under the Investment Company Act of 1940. The applicants seek permission for certain closed-end management investment companies and business development companies to pay investment advisory fees using shares of their common stock. If no hearing is requested, the SEC will grant the requested relief. Interested individuals can request a hearing by contacting the SEC by March 31, 2025.

    Simple Explanation

    The government is thinking about letting some money companies pay their helpers with pieces of their own special paper, called stock, instead of money. If nobody says they disagree by the end of March 2025, these companies can go ahead and do it.

  • 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.

  • 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.

  • 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.

  • 2024-30689 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Exempt Closed-End Management Investment Companies Registered Under the Investment Company Act of 1940 From the Annual Meeting of Shareholders Requirement Set Forth in Exchange Rule 14.10(f)
    Type:Notice
    Citation:89 FR 105162
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) is reviewing a proposed rule change submitted by the Cboe BZX Exchange, Inc.. This proposal seeks to allow closed-end management investment companies that are registered under the Investment Company Act of 1940 to bypass the annual meeting of shareholders, as required by Exchange Rule 14.10(f). The SEC initially designated a longer period for decision-making to ensure they thoroughly evaluate the proposal and any comments received. They have now extended the deadline to either approve or disapprove this change to March 12, 2025, providing more time for consideration.

    Simple Explanation

    The Securities and Exchange Commission (SEC) is deciding whether to allow some special types of investment companies to skip having a big yearly meeting, and they need more time to think about it, so they moved the decision to next March. They want to make sure they're making the right decision, so they're taking extra time to look at all the details and any comments from people who are interested.