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Article
What A Relief! SEC Staff Extends Co-Investment Orders To Open-End Funds And Allows Delegation To Board Committee
On 27 April 2026, the staff (Staff) of the Securities and Exchange Commission (SEC) issued a no-action letter that extends to open-end funds, subject to certain conditions, exemptive relief that permits business development companies (BDCs) and registered closed-end funds to co-invest alongside affiliates in transactions otherwise prohibited under Sections 17(d) and 57(a)(4) of the Investment Company Act of 1940, as amended.
United States Commercial
KG
K&L Gates LLP
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