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Alger Next Gen Growth Fund Co-Investment Order Application

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Summary

The SEC published notice of an application by Alger Next Gen Growth Fund and affiliated entities (Fred Alger Management LLC, Weatherbie Capital LLC) seeking an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 to permit co-investment transactions otherwise prohibited by sections 17(d) and 57(a)(4) of the Act and rule 17d-1. The application was filed September 25, 2025 and amended March 9, 2026.

“Notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 (the "Act") and rule 17d-1 under the Act to permit certain joint transactions otherwise prohibited by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act.”

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What changed

The SEC published a notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 and rule 17d-1. The application requests relief to permit certain registered closed-end management investment companies and business development companies to co-invest in portfolio companies with each other and with affiliated investment entities, transactions currently prohibited without an exemptive order.

Affected parties include the applicant funds and their affiliated entities (Fred Alger Management LLC and Weatherbie Capital LLC). If the order is granted, it would allow the specified affiliated entities to engage in co-investment transactions under defined conditions, subject to the terms and conditions set forth in the application. The SEC will issue the order unless a hearing is requested by May 12, 2026.

Archived snapshot

Apr 21, 2026

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Notice

Alger Next Gen Growth Fund, et al.

A Notice by the Securities and Exchange Commission on 04/21/2026

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  • Public Inspection Published Document: 2026-07763 (91 FR 21361) Document Headings ###### Securities and Exchange Commission
  1. [Investment Company Act Release No. 36093; File No. 812-15905] April 17, 2026. # AGENCY:

Securities and Exchange Commission (“Commission” or “SEC”).

ACTION:

Notice.

Notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 (the “Act”) and rule 17d-1 under the Act to permit certain joint transactions otherwise prohibited by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act.

Summary of Application:

Applicants request an order to permit certain registered closed-end management investment companies and business development companies to co-invest in portfolio companies with each other and with certain affiliated investment entities.

Applicants:

Alger Next Gen Growth Fund, Fred Alger Management, LLC, Weatherbie Capital, LLC, and certain affiliated entities identified on Schedule A to the Application.

Filing Dates:

The application was filed on September 25, 2025 and amended on March 9, 2026.

Hearing or Notification of Hearing:

An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing on any application by emailing the SEC's Secretary at Secretarys-Office@sec.gov and serving the Applicants with a copy of the request by email, if an email address is listed for the relevant Applicant below, or personally or by mail, if a physical address is listed for the relevant Applicant below. The email should include the file number referenced above. Hearing requests should be received by the Commission by 5:30 p.m. Eastern time on May 12, 2026, and should be accompanied by proof of service on the Applicants, in the form of an affidavit or, for lawyers, a certificate of service. Pursuant to rule 0-5 under the Act, hearing requests should state the nature of the writer's interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by emailing the Commission's Secretary at Secretarys-Office@sec.gov.

ADDRESSES:

The Commission: Secretarys-Office@sec.gov. Applicants: Tina Payne, Esq., Fred Alger Management, LLC, 100 Pearl Street, 27th Floor, New York, NY 10004, tpayne@alger.com; Nicole M. Runyan, P.C. and Kim Kaufman, Esq., Kirkland & Ellis LLP, 601 Lexington Avenue, New York, NY 10022, nicole.runyan@kirkland.com and kim.kaufman@kirkland.com.

FOR FURTHER INFORMATION CONTACT:

Kris Easter Guidroz, Senior Counsel, or Adam Large, Senior Special Counsel, at (202) 551-6825 (Division of Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION:

For Applicants' representations, legal analysis, and conditions, please refer to Applicants' amended application filed March 9, 2026, which may be obtained via the Commission's website by searching for the file number at the top of this document, or for an Applicant using the Company name search field, on the SEC's EDGAR system. The SEC's EDGAR system may be searched at https://www.sec.gov/​search-filings. You may also call the SEC's Office of Investor Education and Advocacy at (202) 551-8090.

For the Commission, by the Division of Investment Management, under delegated authority.

Vanessa A. Countryman,

Secretary.

[FR Doc. 2026-07763 Filed 4-20-26; 8:45 am]

BILLING CODE 8011-01-P

Published Document: 2026-07763 (91 FR 21361)

Named provisions

Section 17(d) Section 57(a)(4) Rule 17d-1

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Last updated

Classification

Agency
SEC
Published
April 21st, 2026
Instrument
Notice
Branch
Executive
Legal weight
Non-binding
Stage
Final
Change scope
Minor
Document ID
91 FR 21361 / Investment Company Act Release No. 36093
Docket
Investment Company Act Release No. 36093 File No. 812-15905

Who this affects

Applies to
Fund managers
Industry sector
5231 Securities & Investments
Activity scope
Co-investment applications Investment company filings Exemptive relief requests
Geographic scope
United States US

Taxonomy

Primary area
Securities
Operational domain
Regulatory Affairs
Topics
Banking Financial Services

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