Document ID: SEC-2023-0048-0001
Agency: sec
Document Type: Notice
Title: Application: Prospect Capital Management, LP and Prospect Floating Rate and Alternative Income Fund, Inc.
Posted Date: 2023-01-19T05:00Z

[Federal Register Volume 88, Number 12 (Thursday, January 19, 2023)]
[Notices]
[Pages 3452-3453]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00971]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 34807; File No. 812-15297]

Prospect Capital Management L.P. and Prospect Floating Rate and 
Alternative Income Fund, Inc.

January 13, 2023.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').

ACTION: Notice.

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    Notice of application for an order under section 6(c) of the 
Investment Company Act of 1940 (the ``Act'') granting an exemption from 
section 23(a)(1) of the Act.

SUMMARY OF APPLICATION:  Applicants request an order to permit certain 
registered closed-end management investment companies and business 
development companies (as defined under section 2(a)(48) of the Act) to 
pay investment advisory fees (as described in the application) in 
shares of their common stock.

APPLICANTS:  Prospect Capital Management L.P. and Prospect Floating 
Rate and Alternative Income Fund, Inc.

FILING DATES:  The application was filed on January 1, 2022 and amended 
on September 14, 2022 and December 13, 2022.

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 February 
7, 2023, 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: 
Russell Wininger, Prospect Floating Rate and Alternative Income Fund, 
Inc., 10 East 40th Street, 42nd Floor, New

[[Page 3453]]

York, NY 10016; Steven B. Boehm, Esq., and Cynthia R. Beyea, Esq., 
Eversheds Sutherland (US) LLP, 700 6th Street NW, Washington, DC 20001.

FOR FURTHER INFORMATION CONTACT: Christopher D. Carlson, Senior 
Counsel, or Trace W. Rakestraw, 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 13, 2022, 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. 2023-00971 Filed 1-18-23; 8:45 am]
BILLING CODE 8011-01-P