AGENCY:

Securities and Exchange Commission (“Commission” or “SEC”).

ACTION:

Notice.

Notice of application for an 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 (“BDCs”), closed-end management investment companies and open-end management investment companies, to co-invest in portfolio companies with each other and with certain affiliated investment entities.

Applicants:

Regan Capital Alternative Income Fund, Regan Capital, LLC, Egan Capital, LLC, Regan Credit Offshore Operating Fund LP. Regan Credit Opportunities Fund, LP, Regan Credit Opportunities Fund International, Ltd., Regan Enhanced Credit Offshore Operating Fund, Regan Enhanced Credit Opportunities Fund LP, Regan Enhanced Credit Opportunities Fund International, Ltd, and Regan Special Opportunities Fund II, LP.

Filing Dates:

The application was filed on March 17, 2026 and amended on May 14, 2026.

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. Eastern Time on September 1, 2026, and should be accompanied by proof of service on the 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: Alyssa M. Bernard, Secretary, Regan Capital Alternative Income Fund, alyssa.bernard@usbank.com and Sujit Sahadevan, Chief Operating Officer and Chief Compliance Officer, Regan Capital, LLC, ssahadevan@regancapital.com, with copies to Nathaniel Segal nsegal@vedder.com and Deborah Bielicke Eades, deades@vedder.com, Vedder Price, P.C.

FOR FURTHER INFORMATION CONTACT:

Rachel Loko, Senior Special Counsel, at (202) 551-6825 (Division of Investment Management, Chief Counsel's Office).