Search Results for keywords:"portfolio companies"

Found 10 results

Search Results: keywords:"portfolio companies"

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  • 2021-02179 — Hamilton Lane Private Assets Fund, et al.
    Type:Notice
    Citation:86 FR 7892
    Reading Time:about 52 minutes

    The Securities and Exchange Commission has announced a notice regarding an application submitted by Hamilton Lane Private Assets Fund and others. The applicants are seeking permission for certain investment companies to make joint investments with affiliated funds, which would otherwise be prohibited under existing regulations. They aim to allow a closed-end management investment company to invest in portfolio companies alongside related investment funds. The application includes various conditions to ensure that such investments are fair and equitable for all parties involved.

    Simple Explanation

    The government is looking at a request from a company to let different investment groups work together to share money on projects, even though the current rules usually don't allow it. They want to make sure that everything is fair and rules are followed, so they plan to set up some guidelines to protect everyone involved.

  • 2021-00812 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Section 902.02 of the NYSE Listed Company Manual
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    Type:Notice
    Citation:86 FR 4154
    Reading Time:about 10 minutes

    The New York Stock Exchange (NYSE) has proposed a rule change to eliminate the cap on the fee discount provided to certain investment management entities and their eligible portfolio companies. Previously, there was a maximum limit on the discount, which created unequal fee outcomes for similar companies. By removing this cap, all qualifying companies will uniformly receive a 50% annual fee discount without a maximum limit, promoting fairness and consistency. The change is expected to have minimal impact on overall competition, as only a small percentage of companies qualify for this discount.

    Simple Explanation

    The New York Stock Exchange wants to change its rules so that certain companies can get a bigger discount on their fees without a limit, helping them all equally. This should be okay because not many companies will qualify for these discounts.

  • 2024-30656 — Thirdline Real Estate Income Fund, et al.
    Type:Notice
    Citation:89 FR 105117
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has issued a notice regarding an application from Thirdline Real Estate Income Fund and related entities. These applicants are seeking permission to engage in joint investment activities that are typically restricted by certain parts of the Investment Company Act of 1940. This application mentions the possibility of business development companies and investment companies co-investing in portfolio companies alongside certain affiliated investment entities. If there is no opposition, the SEC plans to grant the requested order, but interested parties may request a hearing by January 13, 2025, by following the specified communication procedures.

    Simple Explanation

    The big money helpers at the SEC got a request from some groups called Thirdline Real Estate Income Fund to team up and share money tricks that they usually aren't allowed to. If nobody says “no” by January 13, 2025, they might let them go ahead and do it.

  • 2025-02064 — ISQ Infrastructure Income Fund, et al.
    Type:Notice
    Citation:90 FR 8730
    Reading Time:about 6 minutes

    The Securities and Exchange Commission (SEC) has received an application related to the Investment Company Act of 1940. This application seeks permission for certain business development companies and investment companies to jointly invest in portfolio companies alongside affiliated entities. The request necessitates an order exempting these joint transactions, which are typically restricted under current regulations. The public can request a hearing on this matter by reaching out to the SEC's Secretary by February 24, 2025.

    Simple Explanation

    The SEC is looking at a plan where certain companies want to work together and share their money with friends, but they need special permission to do it. People can say how they feel about this plan by telling the SEC before February 24, 2025.

  • 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.

  • 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.

  • 2025-05428 — Wilshire Private Assets Fund, et al.
    Type:Notice
    Citation:90 FR 14292
    Reading Time:about 5 minutes

    The Securities and Exchange Commission (SEC) received an application from several investment companies, including Wilshire Private Assets Fund and others, for an order permitting them to co-invest in portfolio companies together with some affiliated entities. This order would allow them to engage in joint transactions that are otherwise restricted by the Investment Company Act of 1940. The application was filed through late 2024 and early 2025, with the SEC considering issuing the order unless a hearing is requested by April 21, 2025. Interested parties can request a hearing by emailing the SEC's Secretary and should provide specific reasons for their request.

    Simple Explanation

    The SEC is deciding if some investment companies can work together on certain money deals that they usually can’t do together. People can say what they think about this and ask for a meeting to talk more by a certain date in April 2025.

  • 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.

  • 2025-04298 — Meketa Capital, LLC, et al.
    Type:Notice
    Citation:90 FR 12615
    Reading Time:about 2 minutes

    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.

  • 2025-04110 — MA Specialty Credit Income Fund, et al.
    Type:Notice
    Citation:90 FR 12195
    Reading Time:about 2 minutes

    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.

    Simple Explanation

    The SEC is thinking about letting some companies team up to invest together in things they normally couldn't, like people working together on a big project. They're deciding if this is okay, and people can tell the SEC if they have thoughts about it by April 7, 2025.