HarbourVest Private Investments Fund and HarbourVest Registered Advisers L.P., 10739-10740 [2025-03121]

Download as PDF Federal Register / Vol. 90, No. 37 / Wednesday, February 26, 2025 / Notices or disapprove the proposed rule change, as modified by Amendment No. 1.7 Section 19(b)(2) of the Act 8 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on September 5, 2024. March 4, 2025 is 180 days from that date, and May 3, 2025 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change, as modified by Amendment No. 1, so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,9 designates May 3, 2025 as the date by which the Commission shall either approve or disapprove the proposed rule change, as modified by Amendment No. 1 (File No. SR–NYSEARCA–2024–70). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–03077 Filed 2–25–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 35474; File No. 812–15587] iDirect Private Markets Fund, et al. February 21, 2025. Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’). ACTION: Notice. khammond on DSK9W7S144PROD with NOTICES AGENCY: Notice of an application under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) for an exemption from sections 18(a)(2), 18(c), and 18(i), under sections 6(c) and 23(c) of the Act for an 7 See Securities Exchange Act Release No. 101806, 89 FR 97678 (Dec. 9, 2024). 8 15 U.S.C. 78s(b)(2). 9 Id. 10 17 CFR 200.30–3(a)(57). VerDate Sep<11>2014 18:26 Feb 25, 2025 Jkt 265001 exemption from rule 23c–3 under the Act, and for an order pursuant to section 17(d) of the Act and rule 17d–1 under the Act. SUMMARY OF APPLICATION: Applicants request an order to permit certain registered closed-end investment companies to issue multiple classes of shares and to impose asset-based distribution and/or service fees and early withdrawal charges. APPLICANTS: iDirect Private Markets Fund, iCapital Registered Fund Adviser LLC, and iCapital Markets LLC. FILING DATE: The application was filed on June 11, 2024, and amended on October 2, 2024. 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 March 13, 2025, 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. ADDRESSES: The Commission: Secretarys-Office@sec.gov. The Applicants: Stephen Jacobs, General Counsel, sjacobs@icapitalnetwork.com; Richard Horowitz, Esq., richard.horowitz@dechert.com; and Alexander Karampatsos, Esq., alexander.karampatsos@dechert.com. FOR FURTHER INFORMATION CONTACT: Stephan N. Packs, Senior Counsel, or Terri G. 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 2, 2024, 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 PO 00000 Frm 00030 Fmt 4703 Sfmt 4703 10739 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 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. 2025–03122 Filed 2–25–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 35465A; 812–15689] HarbourVest Private Investments Fund and HarbourVest Registered Advisers L.P. February 21, 2025. Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’). ACTION: Notice. AGENCY: Notice of application for an order under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) granting an exemption from section 23(a)(1) of the Act. SUMMARY OF APPLICATION: Applicants request an order to permit certain registered closed-end management investment companies and business development companies (as defined under section 2(a)(48) of the Act) to pay investment advisory fees (as described in the application) in shares of their common stock.1 APPLICANTS: HarbourVest Private Investments Fund and HarbourVest Registered Advisers L.P. FILING DATES: The application was filed on January 10, 2025. 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 1 The Commission issued a notice of application on February 6, 2025, Release No. IC–35465 (‘‘Notice’’). Due to a clerical error, the Notice was not published in the Federal Register and, therefore, the Commission is now publishing this notice in the Federal Register. E:\FR\FM\26FEN1.SGM 26FEN1 10740 Federal Register / Vol. 90, No. 37 / Wednesday, February 26, 2025 / Notices should be received by the Commission by 5:30 p.m. on March 14, 2025, 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. The Commission: Secretarys-Office@sec.gov. Applicants: Monique Austin, HarbourVest Private Investments Fund, maustin@ harbourvest.com, Daniel Chisholm, HarbourVest Private Investments Fund, dchisholm@harbourvest.com, and HarbourVest Private Investments Fund, legal@harbourvest.com, with copies to Rajib Chanda, Esq., Simpson Thacher & Bartlett LLP, rajib.chanda@stblaw.com, Ryan P. Brizek, Esq., Simpson Thacher & Bartlett LLP, ryan.brizek@stblaw.com, and Matthew C. Micklavzina, Esq., Simpson Thacher & Bartlett LLP, matthew.micklavzina@stblaw.com. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Trace W. Rakestraw, Senior Special Counsel, at (202) 551–6825 (Division of Investment Management, Chief Counsel’s Office). For Applicants’ representations, legal analysis, and conditions, please refer to Applicants’ application, dated January 10, 2025, 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/ companysearch. You may also call the SEC’s Office of Investor Education and Advocacy at (202) 551–8090. SUPPLEMENTARY INFORMATION: khammond on DSK9W7S144PROD with NOTICES For the Commission, by the Division of Investment Management, under delegated authority. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–03121 Filed 2–25–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–102465; File No. SR–ISE– 2025–08] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing of Proposed Rule Change To Amend Options 4, Section 3, Criteria for Underlying Securities February 20, 2025. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on February 7, 2025, Nasdaq ISE, LLC (‘‘ISE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Options 4, Section 3, Criteria for Underlying Securities to permit options on Commodity-Based Trust Shares. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/ise/rulefilings, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its listing rules at ISE Options 4, Section 3, Criteria for Underlying Securities. 1 15 2 17 VerDate Sep<11>2014 18:26 Feb 25, 2025 Jkt 265001 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00031 Fmt 4703 Sfmt 4703 Specifically, the Exchange proposes to amend the criteria for listing options on Exchange-Traded Fund Shares (‘‘ETFs’’) at Options 4, Section 3(h). The Exchange proposes to allow the listing and trading of options on units that represent interests in a trust that in a Commodity-Based Trust. A Commodity-Based Trust is defined at The Nasdaq Stock Market LLC Rule 5711(d)(iv), NYSE Arca, Inc. Rule 8.201(c), and Cboe BZX Exchange, Inc. 14.11(e)(4) as a security that is issued by a trust that holds (i) a specified commodity deposited with the Trust, or (ii) a specified commodity and, in addition to such specified commodity, cash; (b) that is issued by such Trust in a specified aggregate minimum number in return for a deposit of a quantity of the underlying commodity and/or cash; and (c) that, when aggregated in the same specified minimum number, may be redeemed at a holder’s request by such Trust which will deliver to the redeeming holder the quantity of the underlying commodity and/or cash (‘‘Commodity-Based Trust Share’’). At this time the Exchange proposes to amend its listing criteria at Options 4, Section 3(h)(iv) to provide that (h) Securities deemed appropriate for options trading shall include shares or other securities (‘‘Exchange-Traded Fund Shares’’) that are traded on a national securities exchange and are defined as an ‘‘NMS’’ stock under Rule 600 of Regulation NMS, and that . . . or (iv) represent interests in (a) a security issued by a trust that holds (1) a specified commodity deposited with the trust, or (2) a specified commodity and, in addition to such specified commodity, cash; (b) that is issued by such trust in a specified aggregate minimum number in return for a deposit of a quantity of the underlying commodity and/or cash; and (c) that, when aggregated in the same specified minimum number, may be redeemed at a holder’s request by such trust which will deliver to the redeeming holder the quantity of the underlying commodity and/or cash (‘‘Commodity-Based Trust Share’’). ISE proposes to insert this rule text and remove references to the SPDR® Gold Trust, the iShares COMEX Gold Trust, the iShares Silver Trust, the Aberdeen Standard Physical Gold Trust, the iShares Bitcoin Trust, the Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, the Grayscale Bitcoin Trust (BTC), the Grayscale Bitcoin Mini Trust BTC, and the Bitwise Bitcoin ETF which are all Commodity-Based Trust Shares. As a result of this amendment, the listing criteria would permit any ExchangeTraded Fund that is approved to list on the primary market as a CommodityBased Trust Share to qualify for the listing of options on that Commodity- E:\FR\FM\26FEN1.SGM 26FEN1

Agencies

[Federal Register Volume 90, Number 37 (Wednesday, February 26, 2025)]
[Notices]
[Pages 10739-10740]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-03121]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 35465A; 812-15689]


HarbourVest Private Investments Fund and HarbourVest Registered 
Advisers L.P.

February 21, 2025.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').

ACTION: Notice.

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    Notice of application for an order under section 6(c) of the 
Investment Company Act of 1940 (the ``Act'') granting an exemption from 
section 23(a)(1) of the Act.

Summary of Application:  Applicants request an order to permit certain 
registered closed-end management investment companies and business 
development companies (as defined under section 2(a)(48) of the Act) to 
pay investment advisory fees (as described in the application) in 
shares of their common stock.\1\
---------------------------------------------------------------------------

    \1\ The Commission issued a notice of application on February 6, 
2025, Release No. IC-35465 (``Notice''). Due to a clerical error, 
the Notice was not published in the Federal Register and, therefore, 
the Commission is now publishing this notice in the Federal 
Register.

Applicants:  HarbourVest Private Investments Fund and HarbourVest 
---------------------------------------------------------------------------
Registered Advisers L.P.

Filing Dates:  The application was filed on January 10, 2025.

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

[[Page 10740]]

should be received by the Commission by 5:30 p.m. on March 14, 2025, 
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.

ADDRESSES: The Commission: [email protected]. Applicants: 
Monique Austin, HarbourVest Private Investments Fund, 
[email protected], Daniel Chisholm, HarbourVest Private 
Investments Fund, [email protected], and HarbourVest Private 
Investments Fund, [email protected], with copies to Rajib Chanda, 
Esq., Simpson Thacher & Bartlett LLP, [email protected], Ryan P. 
Brizek, Esq., Simpson Thacher & Bartlett LLP, [email protected], 
and Matthew C. Micklavzina, Esq., Simpson Thacher & Bartlett LLP, 
[email protected].

FOR FURTHER INFORMATION CONTACT: Trace W. Rakestraw, 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' application, 
dated January 10, 2025, 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/companysearch. 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. 2025-03121 Filed 2-25-25; 8:45 am]
BILLING CODE 8011-01-P
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