SEC opens hearing window on Stellus joint-investment order request

The Securities and Exchange Commission issued a notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940. The applicants - Stellus Capital Investment Corporation and a list of related entities - seek permission for certain business development companies, closed-end management investment companies, and open-end management investment companies to co-invest in portfolio companies with each other and with designated affiliated investment entities.

The application, identified as Investment Company Act Release No. 36362; File No. 812-15763, was first filed on April 23, 2025, and subsequently amended on May 7, 2025, August 14, 2026, and October 6, 2026. The notice states that an order granting the requested relief will be issued unless the Commission orders a hearing.

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 November 9, 2026. Requests must include proof of service and, per rule 0-5, describe the requester's interest, relevant facts, the reason for the hearing request, and the contested issues.

Contact information for the applicants includes Robert T. Ladd and Anne G. Oberndorf; SEC contacts are Adam Large and Deepak T. Pai. The notice directs parties to the SEC's EDGAR system for the third amended application filed October 6, 2026, and provides a phone number for the Office of Investor Education and Assistance.

The order, if issued, would permit the specified joint transactions that are otherwise prohibited under sections 17(d) and 57(a)(4) of the Act and rule 17d-1.