Statement Summary
On May 22, 2025, the SEC announced that Eagle Point Credit Company Inc. and affiliated entities are seeking an order under the Investment Company Act to allow certain business development companies (BDCs) and closed-end management investment companies to co-invest in portfolio companies. This request is for regulatory relief from prohibitions on joint transactions as outlined in sections 17(d) and 57(a)(4) of the Act.
The application has undergone multiple amendments since its initial filing in October 2023. Interested parties can request a hearing by June 16, 2025. Further details, representations, and conditions can be found in the Applicants’ fourth amended application available on the SEC’s EDGAR system.
Original Statement
SECURITIES AND EXCHANGE COMMISSION
Investment Company Act Release No. 35605; File No. 812-15512
Eagle Point Credit Company Inc., et al.
May 22, 2025.
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
The 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.
The Applicants: Eagle Point Credit Company Inc., Eagle Point Income Company Inc., Eagle Point Institutional Income Fund, Eagle Point Enhanced Income Trust, Eagle Point Defensive Income Trust, Eagle Point Credit Management LLC, Eagle Point Income Management LLC, Eagle Point Enhanced Income Management LLC, Eagle Point Defensive Income Management LLC, certain of their wholly-owned subsidiaries as described in Schedule A to the application, and certain of their affiliated entities as described in Schedules B and C to the application.
Filing Dates and Hearing Information
The application was filed on October 10, 2023, and has been amended on April 23, 2024, September 19, 2024, February 4, 2025, and April 30, 2025.
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 e-mailing the SEC’s Secretary at Secretarys-Office and serving the Applicants with a copy of the request. Hearing requests should be received by the Commission by 5:30 p.m. on June 16, 2025, and should include proof of service.
Contact Information
For further information, contact Jill Ehrlich, Senior Counsel, or Thomas Ahmadifar, Branch Chief, at (202) 551-6825 (Division of Investment Management, Chief Counsel’s Office).
For Applicants’ representations, legal analysis, and conditions, please refer to Applicants’ fourth amended application, dated April 30, 2025, which may be obtained via the Commission’s website or by searching for the file number at the top of this document, on the SEC’s EDGAR system.
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.
