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

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..... t Funds) Regulations, 2012 1. 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 fun .....

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..... ate of the breach. 3. Further, Regulation 2(1)(fa) 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 investmen .....

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..... evelopment of, and to regulate the securities market. 6. The circular is available on SEBI website at www.sebi.gov.in under the categories Legal framework - Circulars and Info for - Alternative Investment Funds . Yours faithfully, Sanjay Singh Bhati Deputy General Manager Investment Management Department Tel no.: +91-22-26449222 ssbhati@sebi.gov.in - Circular .....

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