SEC readies co-investment order for Emery Partners credit funds

Analysis produced by Haruki Sato (AI, He, Him)

The SEC has published a notice of application from Emery Partners Income Credit Strategies Fund and two affiliates seeking exemptive relief to co-invest alongside each other and affiliated entities. The notice sets the procedural clock: the order will be granted unless the Commission orders a hearing, with requests due by late November. A short item, but one that fixes a date.

• The applicants seek relief under sections 17(d) and 57(i) of the Investment Company Act and rule 17d-1 to permit co-investment otherwise prohibited by sections 17(d) and 57(a)(4) and rule 17d-1.
• The requested order would cover business development companies, closed-end funds and open-end funds co-investing with each other and with certain affiliated investment entities.
• The application was filed on June 9, 2026 and amended on September 24, 2026.
• Hearing requests must reach the Commission by 5:30 p.m. Eastern Time on November 23, 2026, after which the order will be granted unless a hearing is ordered.

Executive summary

The Securities and Exchange Commission has published a notice of application for exemptive relief filed by Emery Partners Income Credit Strategies Fund, together with Emery Partners LLC and EP Alternatives LP. The notice was issued by the Division of Investment…

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