SEC Issues Notice on Joint Investment Relief for BDCs and Affiliated Funds

The Securities and Exchange Commission released a notice on September 3, 2026 (Investment Company Act Release No. 36290A; File No. 812-16017; FR Doc No. 2026-18294) seeking an order under sections 17(d) and 57(i) of the Investment Company Act of 1940. The order would allow certain business development companies, closed-end, and open-end management investment companies to co-invest in portfolio companies with each other and with designated affiliated investment entities.

Applicants AMG BBH Asset-Backed Credit Fund, LLC, Brown Brothers Harriman Credit Partners, LLC, and their affiliated entities filed the original application on April 17, 2026 and filed an amendment on June 23, 2026 to clarify the types of entities eligible for relief. The Commission indicated that an order granting the requested relief will be issued unless a hearing is requested.

Any interested person may request a hearing by emailing the SEC's Secretary and serving the applicants, with the request and proof of service due by 5:30 p.m., Eastern time, on September 28, 2026. Requests must state the requester's interest, relevant facts, the reason for the hearing, and the contested issues, as required by rule 0-5 under the Act.

For further information, contacts are Thomas Ahmadifar, Branch Chief, or Toyin Momoh, Senior Counsel, at (202) 551-6825. The amended application filed June 23, 2026 is available through the SEC's EDGAR system using the file number listed above.