SEC Issues Notice on Macquarie BDC Share-Class Exemption Application

The Securities and Exchange Commission announced a notice of an application filed under section 6(c) of the Investment Company Act of 1940 for an exemption from sections 18(a)(2), 18(c), 18(i) and 61(a) of the Act. The applicants seek authority for certain closed-end investment companies that have elected business development company status to issue multiple classes of shares that may carry differing sales loads and asset-based distribution or service fees.

The application was originally filed on July 31, 2026, and subsequently amended on September 8, 2026. It is identified as Investment Company Act Release No. 36345 and File No. 812-16065. Interested persons may request a hearing by emailing the SEC's Secretary and serving the applicants, with requests required by 5:30 p.m., Eastern Time, on October 20, 2026. Requests must include an affidavit or, for counsel, a certificate of service, and must state the requester's interest, relevant facts, the reason for the hearing request, and the contested issues.

Absent a hearing order, the Commission will issue an order granting the requested relief. The notice lists William Fink of Macquarie Wealth Advisers, LLC as the primary contact, with copies to counsel Nicole M. Runyan, P.C., Brad A. Green, P.C., and Lisa Nosal, Esq.

The amended application dated September 8, 2026, containing the applicants' representations, legal analysis, and conditions, is available on the SEC's website via the file number or through the EDGAR system. For additional information, contact Trace W. Rakestraw, Senior Special Counsel, at (202) 551-6825.

The notice represents a procedural step; no final determination on the exemption has been made, and the outcome will depend on whether a hearing is requested and any subsequent Commission action.