The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemption from certain sections of the Investment Company Act of 1940. AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC are seeking permission to allow business development companies to issue multiple classes of shares with different sales charges and fees. The application was initially filed in July 2024 and has been amended twice since then. Interested parties have until March 13, 2025, to request a hearing on the application.
Simple Explanation
The Securities and Exchange Commission is thinking about letting two companies, AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC, sell different kinds of shares with different prices and rules, which isn't normally allowed. They have asked for permission to do this, and people have until March 13, 2025, to say if they want to talk more about it.