The Securities and Exchange Commission (SEC) has published a notice regarding an application for an order under the Investment Company Act of 1940. This order would allow certain closed-end investment companies to jointly invest in portfolio companies with each other and with specific affiliated investment entities, a practice usually restricted by law. The application was submitted by companies including Meketa Capital, LLC, and amended multiple times, with the most recent amendment on February 21, 2025. A hearing may be requested by interested parties until April 7, 2025, through specific channels provided by the SEC.
Simple Explanation
The SEC is thinking about letting some companies invest together with friends they usually can't because of rules. They want to hear from people about this idea by April 7, 2025.