SEC issues notice on Clearlake joint-transaction application

The Securities and Exchange Commission released a notice (Investment Company Act Release No. 36359; File No. 812-16070; FR Doc No. 2026-21029) indicating that Clearlake Private Markets Fund, Clearlake Capital RIC Management, LLC, Pathway Capital Management, L.P., and certain affiliated entities have applied for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 and rule 17d-1. The order would permit business development companies and closed-end management investment companies to co-invest in portfolio companies with each other and with certain affiliated investment entities, transactions otherwise prohibited by sections 17(d) and 57(a)(4).

The application was originally filed on August 10, 2026 and amended on August 13, 2026. The SEC states that an order granting the requested relief will be issued unless the Commission orders a hearing. Interested parties may request a hearing by emailing the SEC's Secretary and serving the applicants, with requests due by 5:30 p.m., Eastern time, on November 3, 2026. Requests must include the file number and be accompanied by proof of service.

Requests for hearing notifications may also be sent by email to the Commission's Secretary. The notice lists contact information for the applicants, including Fred Ebrahemi and John Cannon of Clearlake Capital RIC Management, LLC, and copies to counsel at Simpson Thacher & Bartlett LLP. For further information, the SEC's Division of Investment Management can be reached through Senior Special Counsel Rachel Loko at (202) 551-6720 or via email.

The amended application dated August 13, 2026 is available on the SEC's EDGAR system by searching the file number or the applicant name. The Office of Investor Education and Assistance can be contacted at (202) 551-8090 for additional assistance.