[Federal Register Volume 90, Number 37 (Wednesday, February 26, 2025)]
[Notices]
[Page 10739]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-03122]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 35474; File No. 812-15587]


iDirect Private Markets Fund, et al.

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

ACTION: Notice.

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    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 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 [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 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: [email protected]. The Applicants: 
Stephen Jacobs, General Counsel, [email protected]; Richard 
Horowitz, Esq., [email protected]; and Alexander 
Karampatsos, Esq., [email protected].

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 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