Nuveen Churchill Direct Lending Corp., et al., 57744-57745 [2022-20369]
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Federal Register / Vol. 87, No. 182 / Wednesday, September 21, 2022 / Notices
must continually adjust its fees and
rebates to remain competitive with other
exchanges and with off-exchange
venues. Because competitors are free to
modify their own fees and credits in
response, and because market
participants may readily adjust their
order routing practices, the Exchange
does not believe its proposed fee change
can impose any burden on intermarket
competition.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 22 of the Act and
subparagraph (f)(2) of Rule 19b–4 23
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 24 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
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IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSE–2022–43 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
22 15
U.S.C. 78s(b)(3)(A).
23 17 CFR 240.19b–4(f)(2).
24 15 U.S.C. 78s(b)(2)(B).
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19:54 Sep 20, 2022
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSE–2022–43. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSE–2022–43, and
should be submitted on or before
October 12, 2022.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022–20378 Filed 9–20–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
34702; File No. 812–15322]
Nuveen Churchill Direct Lending Corp.,
et al.
September 15, 2022.
Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice.
AGENCY:
Notice of application for an order
(‘‘Order’’) under sections 17(d) and 57(i)
25 17
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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 (‘‘BDCs’’) and closed-end
management investment companies to
co-invest in portfolio companies with
each other and with certain affiliated
investment entities.
APPLICANTS: Nuveen Churchill Direct
Lending Corp., Nuveen Fund Advisors,
LLC, Nuveen Alternatives Advisors
LLC, Churchill Asset Management LLC,
Nuveen Churchill Advisors LLC,
Nuveen Asset Management, LLC,
Teachers Advisors, LLC, Teachers
Insurance and Annuity Association of
America, MM Funding, LLC, Churchill
Middle Market Senior Loan Fund, LP,
Churchill Middle Market Senior Loan
Fund, Offshore LP, TGAM Churchill
Middle Market Senior Loan Fund K, LP,
TIAA Churchill Middle Market CLO I
Ltd., Churchill Middle Market CLO IV
Ltd., TPS Investors Master Fund, LP,
TPS Investors Operating Fund, LLC,
TPS Investors Fund II, LP, NAP
Investors Fund, L.P., Nuveen Junior
Capital Opportunities Fund, SCSp,
Churchill Middle Market Senior Loan
Fund II–K (Unlevered), LP, Churchill
Middle Market Senior Loan Fund II–
European Fund, SCSp, Churchill
Middle Market Senior Loan Fund II–
European Co-Invest Fund, SCSp,
Churchill Middle Market Senior Loan
Fund II–Master Fund, LP, Churchill
Middle Market Senior Loan Fund II–PS
Co-Invest Fund, LP, PS FinCo, Inc.,
Churchill Middle Market CLO III LLC,
Churchill Middle Market CLO V–A,
Ltd., CNV Investor Fund ScSp,
Churchill Junior Capital Opportunities
Fund II, L.P., Churchill Junior Capital
Opportunities Fund II SCSp, Churchill
Co-Investment Partners, L.P., Churchill
Secondary Partners, L.P., CMIC Funding
LP, Churchill MMSL III Investment
Subsidiary, LP, Churchill MMSLF CLO–
I, LP, Churchill Middle Market Senior
Loan Fund–Master Fund SCSp, SICAV–
RAIF–Fund IV, NC SLF Inc., NC SLF
SPV I, LLC, Churchill NCDLC CLO–I,
LLC, Nuveen Churchill BDC SPV II,
LLC, Nuveen Churchill BDC SPV III,
LLC, NCDL Equity Holdings LLC,
Churchill Junior Capital Opportunities
Fund II Master SCSp, CM Senior Master,
LP, CM Multi Master, LP, Nuveen
Churchill Private Capital Income Fund,
NCPIF SPV I LLC, NCPIF Equity
Holdings LLC, Nuveen Multi-Asset
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Federal Register / Vol. 87, No. 182 / Wednesday, September 21, 2022 / Notices
Credit Fund, LP, Churchill Middle
Market CLO VI Ltd., Churchill Middle
Market CLO VII Ltd., and Churchill
Middle Market Senior Loan Fund (JPY)
Series 2022, L.P.
FILING DATES: The application was filed
on April 15, 2022, and amended on July
11, 2022 and August 17, 2022.
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. Hearing requests
should be received by the Commission
by 5:30 p.m. on, October 11, 2022, and
should be accompanied by proof of
service on 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:
John McCally, General Counsel,
Churchill Asset Management LLC, at
john.mccally@churchillam.com, and
Steven B. Boehm, Esq., Payam
Siadatpour, Esq., and Anne G.
Oberndorf, Esq., Eversheds Sutherland
(US) LLP, at anneoberndorf@evershedssutherland.us.
FOR FURTHER INFORMATION CONTACT:
Kieran G. Brown, 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’ second amended and
restated application, dated August 17,
2022, 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/edgar/searchedgar/
legacy/companysearch.html. You may
also call the SEC’s Public Reference
Room at (202) 551–8090.
VerDate Sep<11>2014
19:54 Sep 20, 2022
Jkt 256001
For the Commission, by the Division of
Investment Management, under delegated
authority.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022–20369 Filed 9–20–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–95795; File No. SR–CBOE–
2022–039]
Self-Regulatory Organizations; Cboe
Exchange, Inc.; Order Approving a
Proposed Rule Change To Expand the
Nonstandard Expirations Pilot
Program To Include P.M.-Settled
Options on the Mini-S&P 500 Index
That Expire on Tuesday or Thursday
September 15, 2022.
I. Introduction
On July 21, 2022, Cboe Exchange, Inc.
(‘‘Exchange’’ or ‘‘Cboe Options’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to expand its Nonstandard
Expirations Pilot Program to permit
P.M.-settled options on the Mini-S&P
500 Index that expire on Tuesday or
Thursday. The proposed rule change
was published for comment in the
Federal Register on August 4, 2022.3
The Commission received no comments
on the proposal. The Commission is
approving the proposed rule change.
II. Description of the Proposal
Cboe Options proposes to expand its
existing Nonstandard Expirations Pilot
(‘‘Pilot Program’’) 4 to permit P.M.settled options on the Mini-S&P 500
Index (‘‘XSP options’’) that expire on
Tuesday or Thursday. Under the
existing Pilot Program, the Exchange is
permitted to list P.M.-settled options on
broad-based indexes that expire on: (1)
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 95392
(July 29, 2022), 87 FR 47803 (‘‘Notice’’).
4 See Securities Exchange Act Release No. 62911
(September 14, 2010), 75 FR 57539 (September 21,
2010) (‘‘Pilot Approval Order’’). See also Securities
Exchange Act Release No. 76909 (January 14, 2016),
81 FR 3512 (January 21, 2016) (permitting P.M.settled options on broad-based indexes that expire
on any Wednesday); and Securities Exchange Act
Release No. 78531 (August 10, 2016), 81 FR 54643
(August 16, 2016) (permitting P.M.-settled options
on broad-based indexes that expire on any
Monday). The Pilot is currently set to expire on
November 7, 2022. See Securities Exchange Act
Release No. 94800 (April 27, 2022), 87 FR 26248
(May 3, 2022).
2 17
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57745
any Monday, Wednesday, or Friday and,
with respect to options on the S&P 500
Index (‘‘SPX options’’) any Tuesday or
Thursday (‘‘Weekly Expirations’’ or
‘‘EOWs’’) and (2) the last trading day of
the month (‘‘EOMs’’).5 The Exchange
notes that permitting XSP options with
Tuesday and Thursday expirations, as
proposed, would be in addition to the
XSP options with Monday, Wednesday
and Friday expirations that the
Exchange may (and does) already list, as
they are permissible Weekly Expirations
for options on a broad-based index (e.g.,
the Mini-S&P 500 Index) pursuant to
Rule 4.13(e)(1). The Exchange states that
the Pilot Program for Weekly
Expirations will apply to Tuesday and
Thursday XSP options as it currently
applies to all other P.M.-settled broadbased index options with Monday,
Wednesday, and Friday expirations and
to SPX options with Tuesday and
Thursday expirations.6
A. Tuesday and Thursday XSP Options
The Exchange’s proposed rule change
will allow it to open for trading XSP
options with Tuesday and Thursday
expirations to expire on any Tuesday or
Thursday of the month, other than days
that coincide with an EOM expiration.7
The maximum number of expirations
that may be listed for each Weekly
Expiration (i.e., a Monday expiration,
Tuesday expiration, Wednesday
expiration, Thursday expiration, or
Friday expiration, as applicable) in a
given class (including XSP) is the same
as the maximum number of expirations
permitted in Rule 4.13(a)(2) for standard
options on the same broad-based index
(which is 12 for XSP options).8
Weekly Expirations need not be for
consecutive Monday, Tuesday,
Wednesday, Thursday, or Friday
expirations as applicable; however, the
expiration date of a nonconsecutive
expiration may not be beyond what
would be considered the last expiration
date if the maximum number of
expirations were listed consecutively.9
Weekly Expirations that are first listed
in a given class may expire up to four
weeks from the actual listing date.10 If
the Exchange lists EOMs and Weekly
Expirations as applicable in a given
class, the Exchange will list an EOM
instead of a Weekly Expiration that
5 See
Rule 4.13(e).
Notice, supra note 3, 87 FR at 47804.
7 If the Exchange lists EOMs and Weekly
Expirations as applicable in a given class, the
Exchange will list an EOM instead of a Weekly
Expiration that expires on the same day in the given
class. See Cboe Options Rule 4.13(e)(1).
8 See Notice, supra note 3, 87 FR at 47803.
9 See Cboe Options Rule 4.13(e)(1).
10 Id.
6 See
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Agencies
[Federal Register Volume 87, Number 182 (Wednesday, September 21, 2022)]
[Notices]
[Pages 57744-57745]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-20369]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 34702; File No. 812-15322]
Nuveen Churchill Direct Lending Corp., et al.
September 15, 2022.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').
ACTION: Notice.
-----------------------------------------------------------------------
Notice of application for an order (``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 (``BDCs'') and closed-end management investment
companies to co-invest in portfolio companies with each other and with
certain affiliated investment entities.
APPLICANTS: Nuveen Churchill Direct Lending Corp., Nuveen Fund
Advisors, LLC, Nuveen Alternatives Advisors LLC, Churchill Asset
Management LLC, Nuveen Churchill Advisors LLC, Nuveen Asset Management,
LLC, Teachers Advisors, LLC, Teachers Insurance and Annuity Association
of America, MM Funding, LLC, Churchill Middle Market Senior Loan Fund,
LP, Churchill Middle Market Senior Loan Fund, Offshore LP, TGAM
Churchill Middle Market Senior Loan Fund K, LP, TIAA Churchill Middle
Market CLO I Ltd., Churchill Middle Market CLO IV Ltd., TPS Investors
Master Fund, LP, TPS Investors Operating Fund, LLC, TPS Investors Fund
II, LP, NAP Investors Fund, L.P., Nuveen Junior Capital Opportunities
Fund, SCSp, Churchill Middle Market Senior Loan Fund II-K (Unlevered),
LP, Churchill Middle Market Senior Loan Fund II-European Fund, SCSp,
Churchill Middle Market Senior Loan Fund II-European Co-Invest Fund,
SCSp, Churchill Middle Market Senior Loan Fund II-Master Fund, LP,
Churchill Middle Market Senior Loan Fund II-PS Co-Invest Fund, LP, PS
FinCo, Inc., Churchill Middle Market CLO III LLC, Churchill Middle
Market CLO V-A, Ltd., CNV Investor Fund ScSp, Churchill Junior Capital
Opportunities Fund II, L.P., Churchill Junior Capital Opportunities
Fund II SCSp, Churchill Co-Investment Partners, L.P., Churchill
Secondary Partners, L.P., CMIC Funding LP, Churchill MMSL III
Investment Subsidiary, LP, Churchill MMSLF CLO-I, LP, Churchill Middle
Market Senior Loan Fund-Master Fund SCSp, SICAV-RAIF-Fund IV, NC SLF
Inc., NC SLF SPV I, LLC, Churchill NCDLC CLO-I, LLC, Nuveen Churchill
BDC SPV II, LLC, Nuveen Churchill BDC SPV III, LLC, NCDL Equity
Holdings LLC, Churchill Junior Capital Opportunities Fund II Master
SCSp, CM Senior Master, LP, CM Multi Master, LP, Nuveen Churchill
Private Capital Income Fund, NCPIF SPV I LLC, NCPIF Equity Holdings
LLC, Nuveen Multi-Asset
[[Page 57745]]
Credit Fund, LP, Churchill Middle Market CLO VI Ltd., Churchill Middle
Market CLO VII Ltd., and Churchill Middle Market Senior Loan Fund (JPY)
Series 2022, L.P.
Filing Dates: The application was filed on April 15, 2022, and amended
on July 11, 2022 and August 17, 2022.
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 [email protected] 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, October
11, 2022, and should be accompanied by proof of service on 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
[email protected].
ADDRESSES: The Commission: [email protected]. Applicants: John
McCally, General Counsel, Churchill Asset Management LLC, at
[email protected], and Steven B. Boehm, Esq., Payam
Siadatpour, Esq., and Anne G. Oberndorf, Esq., Eversheds Sutherland
(US) LLP, at [email protected].
FOR FURTHER INFORMATION CONTACT: Kieran G. Brown, 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' second amended
and restated application, dated August 17, 2022, 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/edgar/searchedgar/legacy/companysearch.html. 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. 2022-20369 Filed 9-20-22; 8:45 am]
BILLING CODE 8011-01-P