[Federal Register Volume 89, Number 35 (Wednesday, February 21, 2024)]
[Notices]
[Pages 13116-13117]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03422]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 35131; File No. 812-15488]
Barings Corporate Investors, et al.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').
ACTION: Notice.
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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: Barings Corporate Investors, Barings Global Short
Duration High Yield Fund, CI Subsidiary Trust, Barings Participation
Investors, PI Subsidiary Trust, Barings LLC, Massachusetts Mutual Life
Insurance Company, C.M. Life Insurance company, Barings Finance LLC,
Tower Square Capital Partners IV, L.P., Tower Square Capital Partners
IV-A, L.P., Barings BDC, Inc., Energy Hardware Holdings, Inc., SIC
Investment Holdings LLC, Barings Private Credit Corporation, Barings
Capital Investment Corporation, BCIC Holdings, Inc., Barings Private
Equity Opportunities and Commitments Fund, Barings Global Credit Fund
(LUX)--Segregated Loan Account 5, Barings Segregated Loans 5 S.[Agrave]
R.L., BAYVK R Private Debt SCS, SICAV-FIS, BAYVK R PD 1 Loan S.[Agrave]
R.L., Barings Umbrella Fund plc--Barings European High Yield Bond Fund,
Barings Global Investment Funds plc--Barings European Loan Fund,
Barings European Loan Limited, BCF Europe Funding Limited, BCF Senior
Funding I Designated Activity Company, BCF Senior Funding I LLC,
MassMutual Global Floating Rate Fund, Barings Umbrella Fund plc--
Barings Global High Yield Bond Fund, Barings Global Investment Funds 2
plc--Barings Global High Yield Credit Strategies Fund, Barings Global
High Yield Credit Strategies Limited, Barings Global Investment Funds
plc--Barings Global Loan Fund, Barings Global Loan Limited, Barings
Global Credit Fund (LUX)--Barings Global Private Loan Fund, Barings
Global Private Loans 1 S.[Agrave] R.L., Barings Umbrella Fund plc--
Barings Global Senior Secured Bond Fund, Barings CMS Fund, LP, Barings
Umbrella Fund plc--Barings U.S. High Yield Bond Fund, Barings Direct
Lending 2018 LP, Barings European Direct Lending 1 L.P., Barings
European Direct Lending 1 S.[Agrave] R.L., Barings Global Credit Fund
(LUX)--Barings European Private Loan Fund II, Barings European Private
Loans 2 S.[Agrave] R.L., Barings Global Credit Fund (LUX)--Barings
European Private Loan Fund III, Barings European Private Loans 3
S.[Agrave] R.L., Barings Global Credit Fund (LUX)--Barings European
Private Loan Fund III (A), Barings European Private Loans 3A S.[Agrave]
R.L., Barings Global Investment Funds plc--Barings Global Loan and High
Yield Bond Fund, Barings Global Loan and High Yield Bond Limited,
Barings Global Investment Funds plc--Barings Global Loan Select
Responsible Exclusions Fund, Barings Global Loan Select Responsible
Exclusions Limited, Barings Global Credit Fund (LUX)--Barings Global
Private Loan Fund 2, Barings Global Private Loans 2 S.[Agrave] R.L.,
Barings Global Credit Fund (LUX)--Barings Global Private Loan Fund 3,
Barings Global Private Loans 3 S.[Agrave] R.L., Barings Global Private
Loan Fund 4 SCSp, Barings Global Private Loans 4 S.[Agrave] R.L.,
Barings Global Private Loan Fund 4(S) SCSp, Barings Global Private
Loans 4(S) S.[Agrave] R.L., Barings Global Credit Fund (LUX)--
Segregated Loan Account 3, Barings Segregated Loans 3 S.[Agrave] R.L.,
Barings Global Credit Fund (LUX)--Segregated Loan Account 1, Barings
Segregated Loans 1 S.[Agrave] R.L., Barings Global Credit Fund (LUX)--
Segregated Loan Account 2, Barings Segregated Loans 2 S.[Agrave] R.L.,
Barings Global Investment Funds plc--Global Private Loan Strategy Fund
1, Barings Global Private Loan Strategy 1 Limited, Barings Global
Credit Fund (LUX)--Segregated Loan Account 4, Barings Global Credit
Fund (LUX)--Segregated Loan Account 6, Barings Segregated
[[Page 13117]]
Loans 6 S.[Agrave] R.L., Barings SLA 6 LLC, Barings SS4 (LUX) LLC,
Barings Umbrella Fund (LUX)--Barings Global Special Situations Credit
Fund 4 (LUX) Fund, Barings Global Special Situations Credit 4 (LUX)
S.[Agrave] R.L., Barings Global Credit Fund (LUX)--Barings Global
Special Situations Credit Fund 3, Barings Global Special Situations
Credit 3 S.[Agrave] R.L., Barings Global Umbrella Fund--Barings
Developed and Emerging Markets High Yield Bond Fund, Barings--MM
Revolver Fund LP, Barings North American Private Loan Fund (Cayman)-A,
L.P., Barings North American Private Loan Fund, L.P., Barings North
American Private Loan Fund (Cayman), LP, Barings Small Business Fund,
L.P., Barings Middle Market CLO Ltd. 2017-I, Barings CLO Ltd. 2018-I,
Barings CLO Ltd. 2018-II, Barings CLO Ltd. 2018-III, Barings CLO Ltd.
2018-IV, Barings Middle Market CLO Ltd. 2018-I, Barings CLO Ltd. 2019-
I, Barings CLO Ltd. 2019-II, Barings CLO Ltd. 2019-III, Barings Middle
Market CLO Ltd. 2019-I, Barings CLO Ltd. 2020-1, Barings CLO Ltd. 2020-
IV, Barings CLO Ltd. 2021-I, Barings CLO Ltd. 2021-II, Barings CLO Ltd.
2021-III, Barings Middle Market CLO Ltd. 2021-I, Barings CLO Ltd. 2016-
II, Babson CLO Ltd. 2014-I, Barings CLO Ltd. 2015-I, Barings CLO Ltd.
2016-I, Barings CLO Ltd. 2017-I, Barings U.S. High Yield Collective
Investment Fund, MassMutual High Yield Fund, MassMutual Ascend Life
Insurance Company, MassMutual Trad Private Equity LLC, Barings Global
Investment Funds plc--Global Multi-Credit Strategy Fund 1, Barings
Global Multi-Credit Strategy 1 Limited, Barings Global Investment Funds
2 plc--Global Multi-Credit Strategy Fund 3, Barings Global Multi-Credit
Strategy 3 Limited, Barings Global Investment Funds plc--Global Multi-
Credit Strategy Fund 4, Barings Global Multi-Credit Strategy 4 Limited,
BME SCSp, BME Investment S.[Agrave] R.L., Barings North American
Private Loan Fund II (Cayman)-A, LP, NAPLF (Cayman)-A Senior Funding I
LLC, Barings North American Private Loan Fund II (Cayman), L.P., NAPLF
(Cayman) Senior Funding I LLC, Barings North American Private Loan Fund
II (Unlevered), L.P., NAPLF Senior Funding I LLC, NAPLF (Cayman)-A
Senior Funding II LLC, NAPLF (Cayman) Senior Funding II LLC, OTPP--
BNAPLF II LP, OTPP--BNAPLF II Funding LP, Barings Global Special
Situations Credit Fund 4 (Delaware) L.P., Tryon Street Funding III
Ltd., Barings Global Investment Funds plc--European Loan Strategy Fund
1, Barings European Loan Strategy 1 Limited, BPC Funding LLC, and BPCC
Holdings, Inc.
Filing Dates: The application was filed on July 20, 2023, and
amended on October 25, 2023 and December 4, 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 [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 March 11,
2024, 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: Jill
Dinerman, Chief Legal Officer, Barings LLC at
[email protected].
FOR FURTHER INFORMATION CONTACT: Matthew Cook, 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 December 4, 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 http://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.
Dated: February 14, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-03422 Filed 2-20-24; 8:45 am]
BILLING CODE 8011-01-P