# EDGAR Filing Document

**Accession Number:** 0001862281
**File Stem:** 9999999997-25-002520
**Filing Date:** 2025-6
**Character Count:** 4482
**Document Hash:** f8da084222f8d1f1bee43b00dff96b94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**9999999997-25-002520.hdr.sgml**: 20250603

**ACCESSION NUMBER**: 9999999997-25-002520

**CONFORMED SUBMISSION TYPE**: APP ORDR

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250603

**DATE AS OF CHANGE**: 20250603

**ACTION DATE**: 20250602

**RECEIVED DATE**: 20250603

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADAMS STREET PRIVATE EQUITY NAVIGATOR FUND LLC
- **CENTRAL INDEX KEY:** 0001862281

**ORGANIZATION NAME:**
- **EIN:** 981569978
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** APP ORDR

**SEC ACT:**
- **SEC FILE NUMBER:** 812-15740
- **FILM NUMBER:** 251017547

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NORTH WACKER DRIVE, SUITE 2700
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** (312) 553-7890

**MAIL ADDRESS:**
- **STREET 1:** ONE NORTH WACKER DRIVE, SUITE 2700
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADAMS STREET GLOBAL PRIVATE MARKETS FUND LP
- **DATE OF NAME CHANGE:** 20210514

### Attached PDF Documents

**Attachment 1:** `filename1`

# UNITED STATES OF AMERICA
## BEFORE THE
## SECURITIES AND EXCHANGE COMMISSION

INVESTMENT COMPANY ACT OF 1940
Release No. 35618 / June 2, 2025

In the Matter of
ADAMS STREET PRIVATE EQUITY NAVIGATOR FUND LLC
ADAMS STREET ADVISORS, LLC
One North Wacker Drive, Suite 2700
Chicago, Illinois 60606
(812-15740)

ORDER UNDER SECTION 6(c) OF THE INVESTMENT COMPANY ACT OF 1940
GRANTING AN EXEMPTION FROM SECTIONS 18(a)(2), 18(c) AND 18(i) OF THE ACT,
UNDER SECTIONS 6(c) AND 23(c) OF THE ACT GRANTING AN EXEMPTION FROM
RULE 23c-3 OF THE ACT AND PURSUANT TO SECTION 17(d) AND RULE 17d-1
UNDER THE ACT

Adams Street Private Equity Navigator Fund LLC and Adams Street Advisors, LLC, filed an application on April 1, 2025, requesting an order under section 6(c) of the Investment Company Act of 1940 (“Act”) granting an exemption from sections 18(a)(2), 18(c) and 18(i) of the Act; under sections 6(c) and 23(c) of the Act granting an exemption from rule 23c-3 under the Act; and pursuant to section 17(d) of the Act and rule 17d-1 under the Act. The order permits certain registered closed-end management investment companies to issue multiple classes of shares and to impose asset-based distribution and/or service fees, and early withdrawal charges.

On May 7, 2025, a notice of the filing of the application was issued (Investment Company Act Release No. 35577). The notice gave interested persons an opportunity to request a hearing and stated that an order granting the application would be issued unless a hearing was ordered. No request for a hearing has been filed, and the Commission has not ordered a hearing.

The matter has been considered and it is found, on the basis of the information set forth in the application, that granting the requested exemption is appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act.

It is further found that proposed repurchases will be made in a manner which does not unfairly discriminate against any holders of the class or classes of securities to be purchased.

It is further found that the investment company’s proposed institution of asset-based distribution and/or service fees is consistent with the provisions, policies, and purposes of the Act, and will not be on a basis different from or less advantageous than that of other participants.

Accordingly, in the matter of Adams Street Private Equity Navigator Fund LLC and Adams Street Advisors, LLC (File No. 812-15740),

IT IS ORDERED, under section 6(c) of the Act, that the requested exemption from sections 18(a)(2), 18(c) and 18(i) of the Act is granted, effective immediately, subject to the condition contained in the application.

IT IS ALSO ORDERED, under sections 6(c) and 23(c)(3) of the Act, that the requested exemption from rule 23c-3 of the Act is granted, effective immediately, subject to the condition contained in the application.

IT IS ALSO ORDERED, under section 17(d) and rule 17d-1 of the Act, that the investment company’s institution of asset-based distribution and/or service fees is approved, effective immediately, subject to the condition contained in the application.

For the Commission, by the Division of Investment Management, under delegated authority.

Stephanie J. Fouse,

Assistant Secretary.