Notice2024-09995
Crescent Capital BDC, Inc., et al.
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 8, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 90 (Wednesday, May 8, 2024)</title>
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[Federal Register Volume 89, Number 90 (Wednesday, May 8, 2024)]
[Notices]
[Pages 38937-38938]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09995]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 35185; File No. 812-15450]
Crescent Capital BDC, Inc., et al.
May 2, 2024.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').
ACTION: Notice.
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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 amend a
previous order granted by the Commission that permits certain business
development companies and closed-end management investment companies to
co-invest in portfolio companies with each other and with certain
affiliated investment entities.
Applicants: Crescent Capital BDC, Inc.; Crescent Private Credit Income
Corp.; Crescent Capital Group LP; Crescent Cap Advisors, LLC; Crescent
Direct Lending Management, LLC; Crescent SBIC Management, LLC; Crescent
Credit Europe LLP; Crescent Direct Lending SMA Management LLC; Crescent
Private Credit Partners Management LLC; Crescent Cap NT Advisors, LLC;
Crescent Mezzanine Partners VI, LP; Crescent Mezzanine Partners VIB,
LP; Crescent Mezzanine Partners VIC, LP; Crescent Capital High Income
Fund, LP; Crescent Capital High Income Fund B, L.P.; Crescent Credit
Europe CAA SCS; Crescent Credit Europe MM SCS; Crescent Credit
Solutions VIII, L.P.; Crescent Credit Solutions VIIIB, SCSp; Crescent
Credit Solutions VIIIC (Solvency II), SCSp; Crescent Credit Solutions
VIII A-2, LP; Crescent Credit Opportunities Fund, L.P.; Crescent Credit
Opportunities Fund (Cayman), L.P.; Crescent Credit Opportunities Fund
AIF, SCSP; Crescent Senior Secured Floating Rate Loan Fund, LLC;
Crescent Senior Secured Floating Rate Loan Fund (Cayman), LP; Crescent/
Kamehameha Schools Partnership, LP; NPS/Crescent Strategic Partnership,
LP; NPS/Crescent Strategic Partnership II, LP; Crescent (TX) Direct
Lending Fund, L.P.; Crescent Direct Lending Fund, L.P.; Crescent Direct
Lending Levered Fund (Cayman), LP; Crescent Direct Lending Levered Fund
(Delaware), LP; CDL Unit Trust (Ireland); CDL Investment Subsidiary II,
LP; CDL Levered Fund II, LP; Crescent Direct Lending Fund II (Ireland),
LP; Crescent Direct Lending Fund II (Canada), LP; Crescent Direct
Lending Levered Fund II (Cayman), LP; Crescent Direct Lending Levered
Fund II (Delaware), LP; Crescent Direct Lending Fund II (Delaware), LP;
CDL Unlevered III Investment Subsidiary LP; CDL Levered III Investment
Subsidiary LP; Crescent Direct Lending Fund III LP; Crescent Direct
Lending Fund III (Delaware), LP; Crescent Direct Lending Fund III
(Cayman) LP; Crescent Direct Lending Fund III (Ireland) LP; Crescent
Direct Lending Fund III Note Feeder LP; Crescent Direct Lending Fund
III (Canada) LP; Crescent Direct Lending Levered Fund, L.P.; Crescent
Direct Lending Levered Fund III (Cayman), LP; Crescent Direct Lending
Levered Fund III (Delaware), LP; Crescent Direct Lending Levered Fund
III Note Feeder LP; Crescent Direct Lending Levered Fund III (Ireland)
LP; Crescent Direct Lending Fund III (UK) LP; Crescent Direct Lending
SBIC Fund, L.P.; Crescent Special Situations Fund (Investor Group),
L.P.; Crescent European Specialty Lending Fund, L.P.; Crescent European
Specialty Loan Fund SCS, SICAV-FIS; Crescent European Specialty Lending
Fund (Levered) LP; Crescent European Specialty Lending Fund (Cayman-
Levered) LP; Crescent European Specialty Lending Fund (Cayman) LP;
Crescent European Specialty Lending Fund for ERISA Plans LP; Crescent
European Specialty Lending Fund II (Delaware) LP; Crescent European
Specialty Lending Fund II (Levered) LP; Crescent European Specialty
Lending Fund II (Cayman-Levered) LP; Crescent European Specialty
Lending Fund II (Cayman-Levered EUR) LP; Crescent European Specialty
Lending Fund II (Cayman) LP; Crescent European Specialty Loan Fund II
SCSp; Crescent European Specialty Loan Fund II (GBP) SCSp; Crescent
Mezzanine Partners VII (LTL), L.P.; Crescent Mezzanine Partners VII,
L.P.; Crescent Mezzanine Partners VIIB, L.P.; Crescent Mezzanine
Partners VIIC (LTL), L.P.; Crescent Mezzanine Partners VIIC, L.P.;
Crescent Mezzanine Partners VII (Chengdong Co-Investment), L.P.;
Crescent Mezzanine Partners VII (PA Co-Investment), LP; Crescent
Mezzanine Partners VII (PA Co-Investment II), LP; Crescent Mezzanine
Partners VII (PA Co-Investment III), LP; CPCP Levered Unitranche
Investments LP; CPCP Unitranche Investments LP; Crescent Private Credit
Partners LP; Crescent Private Credit Partners Levered Unitranche Fund
(DE) LP; Crescent
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Private Credit Partners Levered Unitranche Fund (Ireland) LP; Crescent
Private Credit Partners Levered Unitranche Note Feeder LP; Crescent
Private Credit Partners Unitranche Fund (DE) LP; Crescent Private
Credit Partners Unitranche Fund TE (Cayman) LP; Crescent Private Credit
Partners Unitranche Note Feeder LP; Crescent Private Credit Partners
Unitranche Fund (Ireland) LP; Income Credit Strategies (Series C) LP;
Crescent LACERS SMA Partnership, LP; Crescent Ginkgo LP, Crescent K
Investments, L.P.; CESL-A Coinvest Fund SCSp.; Crescent CRPTF Multi-
Strat L.P.; Crescent CRPTF Private Credit L.P.; Crescent/AEGIS
Partnership, L.P.; Crescent European Specialty Lending Fund III (GBP)
SCSp; Crescent European Specialty Lending Fund III SCSp; Crescent
European Specialty Lending Fund III (Cayman-Levered) LP; CRESCENT
European Specialty Lending Fund III (Delaware) LP; and Crescent CLO
Equity Funding II, LP.
Filing Dates: The application was filed on April 4, 2023, and amended
on October 25, 2023.
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 <a href="/cdn-cgi/l/email-protection#b0e3d5d3c2d5c4d1c2c9c39dffd6d6d9d3d5f0c3d5d39ed7dfc6"><span class="__cf_email__" data-cfemail="085b6d6b7a6d7c697a717b25476e6e616b6d487b6d6b266f677e">[email protected]</span></a> 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. Hearing
requests should be received by the Commission by 5:30 p.m. on May 28,
2024, 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
<a href="/cdn-cgi/l/email-protection#1340767061766772616a603e5c75757a7076536076703d747c65"><span class="__cf_email__" data-cfemail="e9ba8c8a9b8c9d889b909ac4a68f8f808a8ca99a8c8ac78e869f">[email protected]</span></a>.
ADDRESSES: The Commission: <a href="/cdn-cgi/l/email-protection#d98abcbaabbcadb8aba0aaf496bfbfb0babc99aabcbaf7beb6af"><span class="__cf_email__" data-cfemail="782b1d1b0a1d0c190a010b55371e1e111b1d380b1d1b561f170e">[email protected]</span></a>. Applicants:
George Hawley, Crescent Capital Group LP, at
<a href="/cdn-cgi/l/email-protection#490e2c263b2e2c6701283e252c30092a3b2c3a2a2c273d2a2839672a2624"><span class="__cf_email__" data-cfemail="0e496b617c696b20466f79626b774e6d7c6b7d6d6b607a6d6f7e206d6163">[email protected]</span></a>, with a copy to Michael Hoffman, Skadden,
Arps, Slate, Meagher & Flom LLP, at <a href="/cdn-cgi/l/email-protection#3e73575d565f5b521076515858535f507e4d555f5a5a5b50105d5153"><span class="__cf_email__" data-cfemail="d19cb8b2b9b0b4bdff99beb7b7bcb0bf91a2bab0b5b5b4bfffb2bebc">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Adam S. Lovell, Senior Counsel, or
Terri Jordan, Branch Chief, 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' first amended and
restated application, dated October 25, 2023, 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 <a href="http://www.sec.gov/edgar/searchedgar/legacy/companysearch.html">http://www.sec.gov/edgar/searchedgar/legacy/companysearch.html</a>. You may also call the SEC's
Public Reference Room at (202) 551-8090.
For the Commission, by the Division of Investment Management,
under delegated authority.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-09995 Filed 5-7-24; 8:45 am]
BILLING CODE 8011-01-P
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