March Brings New Beginnings: SEC Approves Multi-Share Class Exemptive Relief for Private BDCs and Certain Registered Closed-End Funds
By EsqSocial Corporation 08/04/25
Since March 12, 2025, the US Securities and Exchange Commission (SEC) has approved multiple applications for multi-share class exemptive relief for private business development companies (BDCs) and certain registered closed-end funds (together with BDCs, the Funds). This relief expressly permits, for the first time, Funds that are continuously privately offered in reliance on a registration exemption under the Securities Act of 1933, such as Rules 506(b) or 506(c) (Rule 506(c)) of Regulation D,...
By: Katten Muchin Rosenman LLP