Clarifications regarding amendment to SEBI (Alternative Investment Funds) Regulations, 2012

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..... Regulation 15(1)(d) of SEBI (Alternative Investment Funds) Regulations, 2012 ("AIF Regulations") has been amended and notified on November 09, 2021 (link of the notification) to allow Category III AIFs, including any large value funds for accredited investors of Category III AIFs, to calculate the concentration norm based on Net Asset Value (NAV) of the fund for investment in listed equity of an .....

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..... a) has been inserted in AIF Regulations vide the aforesaid amendment to AIF Regulations to state as under - "'Co-investment' means investment made by a Manager or Sponsor or investor of Category I and II Alternative Investment Fund(s) in investee companies where such Category I or Category II Alternative Investment Fund(s) make investment: Provided that Co-investment by investors of Alternativ .....

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