Page 5 - Aif

AIF industry seeks clarity on liquidation scheme for unsold investments

Industry feels there's ambiguity over applicability for funds which have exhausted the one-year period

Sebi rolls out approach for valuation of AIFs for liquidation schemes

Markets regulator Sebi on Thursday came out with a standard approach for valuing the investment portfolio of Alternate Investment Funds (AIFs) along with modalities for launching liquidation schemes, a move that will benefit investors. In addition, all schemes of AIFs will have to be issued in dematerialised (demat) form, the Securities and Exchange Board of India (Sebi) said in three separate circulars. Existing AIFs with a corpus of more than Rs 500 crore and any new AIFs are required to dematerialise their units by October 31, 2023, and after this, issuance of units will be done in demat form. Other AIFs with a corpus of less than or equal to Rs 500 crore are required to dematerialise their units by April 30 next year. Under the standardised approach to valuation, Sebi said that portfolio valuation of securities would be carried out as per guidelines endorsed by the AIF industry association. Presently, AIF Regulations focus on disclosures to investors and do not prescribe any ..

PE funds investment in warehousing saw 45% rise in 2022, shows data

This comes when total leasing of warehousing space in India increased from 51.3 million square feet in 2022-23, compared to 51.2 mn sq ft in 2021-22

Infrastructure AIFs in slow mode despite a govt push for new roads, ports

Commitments to such funds have grown significantly slower than overall AIF commitments

Markets regulator mulls prohibiting differential treatment to AIF investors

Markets regulator Sebi on Wednesday proposed that AIF (alternative investment fund) investors should not be given any differential treatment, which affects the economic rights of other investors. In addition, the regulator is looking to provide clarity on the pro-rata rights of investors in an AIF scheme. AIF is a privately pooled investment vehicle, which collects funds from investors, for investing under a defined investment policy for the benefit of its investors. In its consultation paper, Sebi suggested that no differential rights should be provided to investors of the AIF/scheme, which would affect the economic rights of other investors. However, this should not apply in case of differential rights provided on terms with respect to the hurdle rate of return, performance-linked fee/additional return and management fee. With respect to the pro-rata rights of investors, the regulator recommended that the rights of each investor should be maintained at pro-rata to their commitmen

Crisil launches three new AIF benchmarks to gauge performance

With this Crisil has 10 benchmarks across the three AIF categories

Sebi codifies 'excuse-exclude' norms used by AIFs for managing portfolios

Move to help curb cherry-picking of deals by LPs, manage conflict of interest

Sebi to AIFs: Offer direct plans; introduces trail model for commissions

New norms to curb mis-selling, bring parity on upfront commissions that are already barred in MFs, PMS

AIF applications pile up due to rejig at Sebi, even as regulator turns wary

Longer-than-expected wait time leads to delay in fund launches

Govt evaluating measures to bring down tax burden on PE/VCs in India

It is expected to be introduced in Parliament's monsoon session

Proposed fee structure for the AIF Industry to level playing field

Direct plans, trail model for distribution of commission in Sebi's line of sight

Sebi proposes measures to curb mis-selling in alternate investment funds

Under the recommendations, commission to be charged on trail basis

Sebi mulls tenure extension for AIFs to continue unliquidated investments

Pooled investment vehicles may be allowed to carry forward unliquidated investments to a fresh scheme at the end of tenure

Agri Infrastructure Fund crosses Rs 30,000-cr mark of capital mobilisation

Agriculture Infra Fund (AIF) is a financing facility launched on 8th July 2020 for creation of post-harvest management infrastructure and community farm assets

Sebi allows AIFs to participate in Credit Default Swap transactions

Further, exposure to CDS undertaken in these manner will not tantamount to leverage

Sebi bans fresh inflows into AIF schemes making 'priority distribution'

Schemes adopting such a model, which benefits one class of investors at the cost of others, have also been barred from investing in new companies

Sebi frames guidelines for AIFs for declaring first close of a scheme

Capital markets regulator Sebi on Thursday came out with guidelines for Alternative Investment Funds (AIFs) for declaring the first close of a scheme. Also, the regulator has specified the manner of calculating the tenure of a close-ended scheme of an AIF and prescribed a fee for change in control of the manager or sponsor. The new guidelines would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. With regard to the first close of schemes of AIFs, Sebi said that the first close of a scheme is required to be declared not later than 12 months from the date of the capital markets regulator's communication for taking the Private Placement Memorandum (PPM) of the scheme on record. In the case of open-ended schemes of Category III AIFs, the first close would refer to the close of their Initial Offer Period. "Corpus of the scheme at the time of declaring its first close shall not be less than the minimum corpus prescribed in AIF

Mumbai's venture debt marketplace plans early-stage funding for startups

A Mumbai-based venture debt marketplace is in the midst of setting up an Alternate Investment Fund (AIF) in India and raise USD 90 million for funding 100 startups in 10 countries as well as opening a Singapore office. The AIF, a private equity fund in India, will raise money from Indian investors for the Indian companies, Mumbai-based 8vdx founder Ravi Chachra said on the sidelines of Singapore Fintech Festival. We have money from Indian investors and we are setting up an Indian AIF, an equity fund, said Chachra, a serial entrepreneur and veteran financial investor with a specialisation in credit. The Mumbai team of 15 will be expanded to 40 next year while 10 more funding experts will be placed in offices in Singapore, to be opened next year, as well as Delaware and California. The company has already raised USD 10 million, some of which have come from small investors such as people keen on investing as little as US$10,000 in startups, he explained. Chachra, and 8vdx co-founder

Less than a decade since launch, AIF commitments to cross Rs 7 trn mark

There is optimism that the Rs 7 trillion mark will likely be crossed soon, given the recent momentum

Startups increasingly raising venture debt as investors fear funding winter

Most investors are more cautious in deploying capital towards growth businesses, especially in late-stage startup investments, which are key drivers in a funding cycle