SEC receives exemption request from Clearlake Private Markets Fund
Clearlake Private Markets Fund and Clearlake Capital RIC Management seek SEC order to allow closed-end funds multiple share classes and early withdrawal fees, with hearing requests due Sept. 11, 2026.
The Securities and Exchange Commission announced receipt of an application from Clearlake Private Markets Fund and Clearlake Capital RIC Management, LLC. The application, filed on July 16, 2026, and amended on August 13, 2026, seeks exemptions under section 6(c) of the Investment Company Act of 1940.
Applicants request an order permitting certain registered closed-end investment companies to issue multiple classes of shares and to impose early withdrawal charges and asset-based distribution or service fees. The relief would exempt the funds from sections 18(a)(2), 18(c), 18(i) of the Act and from rule 23c-3.
The Commission will issue the order unless it orders a hearing. Interested persons may request a hearing by emailing the SEC's Secretary, including the file number, and must serve the applicants with proof of service. Requests must be received by 5:30 p.m., Eastern time, on September 11, 2026, and must state the nature of the requester's interest, relevant facts, the reason for the request, and the contested issues, as required by rule 0-5.
Applicants are represented by Fred Ebrahemi and John Cannon at 233 Wilshire Boulevard, Suite 800, Santa Monica, CA 90401, with legal counsel listed in the notice. SEC inquiries may be directed to Rachel Loko, Senior Special Counsel, at (202) 551-6825.
The notice appears in the Federal Register, Volume 91, Number 160, page 53907, FR Doc No. 2026-16935, filed August 19, 2026. If granted, the order will affect the operation of the specified closed-end funds.