Securities and Exchange Commission June 2014 – Federal Register Recent Federal Regulation Documents

Summary of Application: Applicants request an order to exempt certain limited partnerships and other entities (``Partnerships'') formed for the benefit of eligible employees of Kohlberg Kravis Roberts & Co. L.P. (``KKR LP'') and its affiliates from certain provisions of the Act. Each Partnership will be an ``employees' securities company'' within the meaning of section 2(a)(13) of the Act. Applicants: KKR LP; KKR North America Fund XI ESC L.P. (``NAXI ESC''), KKR Asian Fund II ESC L.P. (``Asia II ESC''), KKR Energy Income and Growth Fund I ESC L.P. (``EIGF I ESC''), KKR Real Estate Partners Americas ESC L.P. (``REPA ESC,'' and with NAXI ESC, Asia II ESC, and EIGF I ESC, collectively, the ``Initial Partnerships''); and KKR North America XI Limited (``NAXI ESC GP''), the General Partner (defined below) of NAXI ESC, KKR Asia II Limited (``Asia II ESC GP''), the General Partner of Asia II ESC, KKR EIGF LLC (``EIGF I ESC GP''), the General Partner of EIGF I ESC, and KKR REPA GP LLC (``REPA ESC GP,'' and with NAXI ESC GP, Asia II ESC GP, and EIGF I ESC GP, collectively, the ``Initial General Partners''), the General Partner of REPA ESC.

Summary of Application: Applicants request an order that would permit (a) series of certain open-end management investment companies to issue shares (``Shares'') redeemable in large aggregations only (``Creation Units''); (b) secondary market transactions in Shares to occur at negotiated market prices rather than at net asset value (``NAV''); (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Units; and (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the series to acquire Shares. Applicants: MarketShares ETF Trust (``Trust''), Salient Capital Advisors, LLC (``Initial Adviser''), and Salient Indexes, LLC (``Affiliated Index Provider'').