4634 Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices 

Issued in Washington, DC, by 

Gordon Hartogensis, 

Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2024–01361 Filed 1–23–24; 8:45 am] 

BILLING CODE 7709–02–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

35094; File No. 812–15493] 

CAZ Strategic Opportunities Fund, et 

al. 

January 19, 2024. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’ or ‘‘SEC’’). 

ACTION: Notice. 

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 permit certain 

business development companies and 

closed-end management investment 

companies to co-invest in portfolio 

companies with each other and with 

certain affiliated investment entities. 

Applicants: CAZ Strategic 

Opportunities Fund, CAZ Investments 

LP, CAZ Investments Registered Adviser 

LLC, CAZ AI Fund, L.P., CAZ Barbell 

Fund, L.P., CAZ Barbell (QP) Fund, L.P., 

CAZ Barbell Offshore Fund, Ltd., CAZ 

Co-Investment Opportunities Fund, 

L.P.—100T Portfolio, CAZ CoInvestment Opportunities Fund, L.P.— 

ACP Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—CLS 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—Didi 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—Didi B 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—Fundbox 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—HPE 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—HPE (UB) 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—IF Portfolio, 

CAZ Co-Investment Opportunities 

Fund, L.P.—ISQ Portfolio, CAZ CoInvestment Opportunities Fund, L.P.— 

MCP Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—MSouth 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—ORTF2 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—PLT 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—PLT (UB) 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—RS Portfolio, 

CAZ Co-Investment Opportunities 

Fund, L.P.—RVS Portfolio, CAZ CoInvestment Opportunities Fund, L.P.— 

STP Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—STP-RVS 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—VEP (UB) 

Portfolio, CAZ Co-Investment 

Opportunities Fund, L.P.—VEP 

Portfolio, CAZ Co-Investment 

Opportunities Liquid Fund, L.P.— 

Opendoor II Portfolio, CAZ CoInvestment Opportunities Liquid Fund, 

L.P.—Didi II Portfolio, CAZ Credit 

Opportunity, L.P., CAZ Credit 

Opportunity (TE), L.P., CAZ DFG 

Diversified Fund, L.P.—Vintage I 

Portfolio, CAZ Disruptive Technology 

Fund, L.P.—KV Portfolio, CAZ 

Dislocation Opportunities Fund, L.P., 

CAZ Dislocation Opportunities Fund— 

TE, L.P., CAZ Diversified Alternatives 

Fund, L.P., CAZ Diversified Private 

Investments Founders Class Fund, L.P., 

CAZ Diversified Private Investments 

Class A Fund, L.P., CAZ Diversified 

Private Investments Class B Fund—TE, 

L.P., CAZ Diversified Private 

Investments Class C Fund, L.P., CAZ 

Diversified Private Investments Class D 

Fund—TE, L.P., CAZ Energy Evolution 

Fund, L.P., CAZ Energy Evolution 

Fund—TE, L.P., CAZ Energy 

Infrastructure Fund III, L.P., CAZ 

Energy Infrastructure Fund III-C, L.P., 

CAZ Energy Infrastructure Fund IV, 

L.P., CAZ Enterprise Software 

Opportunities Fund, L.P., CAZ eSports 

Fund, L.P.—Artist eSports Edge 

Portfolio, CAZ eSports Fund, L.P.— 

Artist SPV D Portfolio, CAZ GP 

Ownership Class A Fund, L.P., CAZ GP 

Ownership Class B Fund—TE, L.P., 

CAZ GP Ownership Class C Fund, L.P., 

CAZ GP Ownership Class D Fund—TE, 

L.P., CAZ GP Ownership Class E Fund, 

L.P., CAZ GP Ownership Class F 

Fund—TE, L.P., CAZ Halcyon Strategic 

Opportunities Fund, L.P., CAZ Halcyon 

Offshore Strategic Opportunities Fund, 

L.P., CAZ Healthcare Fund—Israel II, 

L.P., CAZ ICON Fund, L.P., CAZ ICON 

B Fund, L.P., CAZ Medical Royalty 

Fund II, L.P., CAZ Medical Royalty 

Fund III, L.P., CAZ Merchant WP I 

Fund, L.P., CAZ Partners Fund, L.P., 

CAZ Partners Fund Liquid Income (TE), 

L.P., CAZ Private Energy Fund, L.P., 

CAZ Private Equity Access Fund II, 

L.P.—Onshore Series, CAZ Private 

Equity Access Fund II, L.P.—Onshore 

(QP) Series, CAZ Private Equity Access 

Fund II, L.P.—Offshore Series, CAZ 

Private Equity Access Fund II, L.P.— 

Non-Conduit Series, CAZ Private Equity 

Ownership Fund, L.P., CAZ Private 

Equity Ownership (TE) Fund, L.P., CAZ 

Private Equity Ownership Fund II, L.P., 

CAZ Private Equity Ownership Fund II 

(NC), L.P., CAZ Private Equity 

Ownership Fund III, L.P., CAZ Private 

Equity Ownership Fund III-F, L.P., CAZ 

Private Equity Ownership BCP2 Fund, 

L.P., CAZ Private Equity Ownership D5 

Fund, L.P., CAZ Private Equity 

Ownership D5 Fund—TE, L.P., CAZ 

Private Income Fund, L.P., CAZ 

Professional Sports Ownership Fund I, 

L.P., CAZ Professional Sports 

Ownership Fund I—TE, L.P., CAZ Risk 

Mitigation Fund, L.P.—Pure Hedge 

Portfolio, CAZ Risk Mitigation Fund, 

L.P.—Risk Mitigation Portfolio, CAZ 

Risk Mitigation Fund, L.P.—Risk 

Mitigation Plus Income Portfolio, CAZ 

Risk Mitigation Plus Income Fund (TE), 

L.P., CAZ Secondary Opportunities 

Fund, L.P., CAZ Secondary 

Opportunities Fund—TE, L.P., and CAZ 

Valley Forge Fund, L.P. 

Filing Dates: The application was 

filed on August 10, 2023 and amended 

on December 1, 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 

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 February 13, 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 

Secretarys-Office@sec.gov. 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. Applicants: 

Christopher Alan Zook, caz@

cazinvestments.com; Thomas 

Friedmann, thomas.friedmann@

dechert.com; Matthew Carter, 

matthew.carter@dechert.com; 

Alexander Karampatsos, 

alexander.karampatsos@dechert.com. 

FOR FURTHER INFORMATION CONTACT: Jill 

Ehrlich, Senior Counsel, or Lisa Reid 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices 4635 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A). 

4 17 CFR 240.19b–4(f)(2). 

5All capitalized terms not defined herein shall 

have the same definition as in the Rule Book or 

Procedures, as applicable. 

6All capitalized terms not defined herein have 

the same definition as in the CDS Clearing Rule 

Book available at https://www.lch.com/system/files/ 

media_root/CDSClear_Rule_Book__26.09.2023.pdf. 

Ragen, 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 December 1, 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. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–01362 Filed 1–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99391; File No. SR–LCH 

SA–2024–001] 

Self-Regulatory Organizations; LCH 

SA; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to the CDSClear Fee 

Grid for 2024 

January 18, 2024. 

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 January 4, 

2024, Banque Centrale de 

Compensation, which conducts 

business under the name LCH SA (‘‘LCH 

SA’’), filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change (‘‘Proposed 

Rule Change’’) described in Items I, II 

and III below, which Items have been 

prepared primarily by LCH SA. LCH SA 

filed the proposed rule change pursuant 

to section 19(b)(3)(A) of the Act,3 and 

Rule 19b–4(f)(2) 4 thereunder, so that the 

proposal was effective upon filing with 

the Commission. The Commission is 

publishing this notice to solicit 

comments on the Proposed Rule 

Change, from interested persons. 

I. Clearing Agency’s Statement of the 

Terms of Substance of the Proposed 

Rule Change 

LCH SA is proposing to amend its 

CDSClear fee grid for single name and 

index CDS and options products (‘‘Fee 

Grid’’) by incorporating changes in the 

CDSClear business and new clearing 

services offered (the ‘‘Proposed Rule 

Change’’). The text of the Proposed Rule 

Change has been annexed hereto [sic] as 

Exhibit 5. No amendments to the LCH 

SA CDS Clearing Rule Book (‘‘Rule 

Book’’) or the CDS Clearing Procedures 

(‘‘Procedures’’) are required to effect 

these changes.5 The text of the Proposed 

Rule Change has been annexed [sic] as 

Exhibit 5 to File No. SR–LCH SA–2024– 

001.6

The implementation of the Proposed 

Rule Change will be contingent on LCH 

SA’s receipt of all necessary regulatory 

approvals, including the approval by the 

Commission of the Proposed Rule 

Change described herein. 

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, 

LCH SA 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. LCH 

SA has prepared summaries, set forth in 

sections A, B, and C below, of the most 

significant aspects of such statements. 

A. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

1. Purpose 

The purpose of the Proposed Rule 

Change is for LCH SA CDSClear to 

amend its Fee Grid for single name and 

index CDS and options products by 

incorporating changes in the CDSClear 

business and new clearing services 

offered. The Proposed Rule Change 

reflects the ongoing development and 

new product scope of the CDSClear 

service with the objective to meet 

Clearing Members’ and Clients’ evolving 

business needs. For example, among 

other changes, LCH SA is proposing to 

remove the Ö200,000 rebate under the 

General Member Introductory Tariff for 

total notional cleared below Ö10bn for 

single name and sovereign CDS, as this 

rebate was established to incentivize 

new clearing memberships as the 

business evolved. Likewise, LCH SA is 

also proposing to reduce the onboarding 

fee for options products from Ö30,000 to 

Ö15,000 to incentivize clearing of credit 

index options. 

LCH SA is proposing to amend the 

CDSClear Fee Grid for 2024 as follows 

for CDS products: 

Self-Clearing Tariff for Corporates, 

Financials and Sovereign Index and 

Single Name CDS 

i. General Member Unlimited Tariff 

LCH SA is proposing to clarify that 

the Annual Fixed Fee of Ö1,350,000 will 

be charged at a rate of 1/12th for each 

month the Clearing Member group is 

live. A footnote will be added to the Fee 

Grid to state that a Clearing Member is 

considered live for the whole month 

regardless of the go-live date within the 

considered month. LCH SA also 

proposes to amend the ‘‘Details’’ 

column of the Fee Grid to clarify that 

the Annual Fixed Fee applies to all 

indices and all non-sovereign single 

names activity for a Financial Group of 

a Clearing Member. This change is being 

made to simplify the existing language 

and has no impact on the General 

Member unlimited tariff amounts. LCH 

SA also proposes to remove reference to 

the full discount applied to sovereign 

single name variable fees, as the 

discount will no longer apply beginning 

in 2024. 

ii. General Member—Introductory Tariff 

LCH SA is proposing to apply a single 

annual fixed fee of Ö400,000 for the 

General Member’s Introductory Tariff. 

As such, LCH SA is subsequently 

proposing to remove the Ö200,000 

rebate if a General Member’s notional 

amount cleared is below Ö10bn. LCH SA 

also proposes to delete the reference to 

the rebate under the Introductory Tariff 

heading, as this would no longer be 

applicable. In addition, as part of this 

revision to the Fee Grid, LCH SA is 

proposing to clarify that the fixed fee 

will be charged at a rate of 1/12th for 

each month the General Member is live. 

Finally, LCH SA will add a footnote to 

state that a General Member is 

considered live for the whole month 

regardless of the go-live date within the 

considered month. 

iii. Select Members 

For Select Members, LCH SA is 

proposing amendments to certain 

footnotes under the ‘‘Select 

Membership’’ heading. Specifically, 

LCH SA is proposing to clarify that the 


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