Aristotle Pacific Enhanced CLO Income Fund Seeks Co-Investment Order Under Investment Company Act
Summary
The SEC published a notice of application by Aristotle Pacific Enhanced CLO Income Fund and five affiliated entities seeking an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 and rule 17d-1. The applicants request permission for certain business development companies and closed-end management investment companies to co-invest in portfolio companies with each other and with affiliated investment entities, transactions otherwise prohibited under the Act. The application was filed November 14, 2025, and amended on March 9, 2026 and April 3, 2026.
Investment advisers and fund managers operating BDCs or closed-end funds should review their existing co-investment arrangements against the relief sought here. While this application is specific to named Applicants, the SEC's disposition may signal its current willingness to grant co-investment exemptive relief, which could inform requests from other similarly structured fund complexes.
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What changed
The SEC published notice of an application by Aristotle Pacific Enhanced CLO Income Fund and five affiliated entities (Aristotle Pacific Capital LLC, APC High Yield Bond Fund LP, Pacific Asset Management Bank Loan Fund LP, APC Short Duration High Yield Fund LP, and APC Multi-Sector Bond LP) seeking exemptive relief under Investment Company Act Sections 17(d) and 57(i) and Rule 17d-1. The requested order would permit BDCs and closed-end management investment companies to co-invest in portfolio companies alongside each other and affiliated investment entities in transactions otherwise prohibited as joint arrangements involving affiliates.
Affected parties include business development companies, closed-end investment companies, and their affiliated co-investors that currently face restrictions on joint participation in portfolio investments. Interested persons may request a hearing by emailing the SEC Secretary and serving the Applicants. The SEC will issue the requested order unless a hearing is ordered.
What to do next
- Contact the SEC's Secretary to request a hearing on the application
- Serve Applicants with a copy of the hearing request
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Notice
Aristotle Pacific Enhanced CLO Income Fund, et al.
A Notice by the Securities and Exchange Commission on 04/23/2026
- 1.
1.
Document Details Published Content - Document Details Agency Securities and Exchange Commission Agency/Docket Numbers Investment Company Act Release No. 36097 File No. 812-15941 Document Citation 91 FR 21858 Document Number 2026-07855 Document Type Notice Page 21858
(1 page) Publication Date 04/23/2026 Published Content - Document DetailsPDF Official Content
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Document Details Published Content - Document Details Agency Securities and Exchange Commission Agency/Docket Numbers Investment Company Act Release No. 36097 File No. 812-15941 Document Citation 91 FR 21858 Document Number 2026-07855 Document Type Notice Page 21858
(1 page) Publication Date 04/23/2026 Published Content - Document DetailsDocument Dates Published Content - Document Dates Dates Text The application was filed on November 14, 2025 and amended on March 9, 2026 and April 3, 2026. Published Content - Document Dates
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Securities and Exchange Commission
- [Investment Company Act Release No. 36097; File No. 812-15941] April 20, 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 business development companies (“BDCs”) and closed-end management investment companies to co-invest in portfolio companies with each other and with certain affiliated investment entities.
APPLICANTS:
Aristotle Pacific Enhanced CLO Income Fund, Aristotle Pacific Capital, LLC, APC High Yield Bond Fund, LP, Pacific Asset Management Bank Loan Fund L.P., APC Short Duration High Yield Fund, LP, APC Multi-Sector Bond, LP.
FILING DATES:
The application was filed on November 14, 2025 and amended on March 9, 2026 and April 3, 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 15, 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: Alyssa M. Bernard, Aristotle Pacific Enhanced CLO Income Fund, c/o U.S. Bank Global Fund Services, 615 East Michigan Street, Milwaukee, Wisconsin 53202, alyssa.bernard@usbank.com; Joseph Lallande, Esq., Aristotle Pacific Capital, LLC, 840 Newport Center Drive, 7th Floor, Newport Beach, California 92660, jlallande@aristotlecap.com, with copies to: Deborah Bielicke Eades, Vedder Price P.C., 222 North LaSalle Street, Chicago, Illinois 60601, deades@vedder.com, and Joseph M. Mannon, Vedder Price P.C., 222 North LaSalle Street, Chicago, Illinois 60601, jmannon@vedder.com.
FOR FURTHER INFORMATION CONTACT:
Trace W. Rakestraw, Senior Special 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' second amended application, filed April 3, 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.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-07855 Filed 4-22-26; 8:45 am]
BILLING CODE 8011-01-P
Published Document: 2026-07855 (91 FR 21858)
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