Page 2 - Alternative Investment Funds

Alternative investment funds tell Sebi: One exam doesn't fit all

Push for a category split in certification as clock ticks down

SC asks TMC MP Mahua Moitra to approach Sebi for public disclosure of FPIs

The Supreme Court on Tuesday asked TMC MP Mahua Moitra to make a detailed representation to the SEBI on mandating public disclosure of portfolio holdings of alternative investment funds and foreign portfolio investors (FPIs). A bench of Justices B V Nagarathna and Satish Chandra Sharma passed the order while hearing Moitra's plea for a direction to the Securities and Exchange Board of India (SEBI) to mandate public disclosure of ultimate beneficial owners and portfolio of alternative investment funds (AIFs), FPIs and their intermediaries in India. While disposing of Moitra's plea, the bench said once such a representation would be made, the same be considered in accordance with law. Advocate Prashant Bhushan, appearing for Moitra, said the regulations of SEBI require normal mutual funds and other investors to disclose who were these people who were investing, in which companies they were investing. "So far as these two categories (AIFs and FPIs) are concerned, no disclosure is ...

Green Portfolio announces launch of AIF with Rs 300 crore target corpus

Portfolio management service provider Green Portfolio on Wednesday announced the launch of its Alternative Investment Fund (AIF) with a target corpus of Rs 300 crore. Of the Rs 300 crore, the company has already secured over 50 per cent of its commitments from existing and potential investors, Green Portfolio said in a statement. The new category III fund will meet the growing demand for pre-IPO, private market, and exclusive listed equity investment opportunities. The fund will allocate 70-80 per cent of its capital to listed equities, with a focus on small, mid, and micro-cap stocks, while 20-30 per cent will be invested in pre-IPO and private market opportunities. It will also consider preferential allotments, private placements, secondary opportunities, and SME companies. Commenting on the move, Divam Sharma, Co-Founder and Fund Manager at Green Portfolio, said that expanding into the AIF space feels like a natural next step. This move allows the company to offer clients unique

Sebi cuts rights issue timeline to 23 days; Edelweiss MF launches debt fund

Edelweiss Mutual Fund on Tuesday launched its low duration fund, a debt fund which will predominantly invest in low duration debt and money market securities

AIF commitments top Rs 13 trillion as HNIs prefer diversification

Data from the Securities and Exchange Board of India (Sebi) shows that total funds raised by AIFs reached Rs 5.27 trillion, with total investments exceeding Rs 5 trillion in December

Markets Today: Trump on mkts; FII; Nasdaq; Nikkei; Balaji, NAPS Global IPOs

Stock Market Today: As of 6:33 AM, GIFT Nifty Futures were down 75 points at 22,545, hinting at a negative start.

Sebi extends deadline for reporting differential rights issues by AIFs

Markets regulator Sebi on Monday extended the deadline by a month to March-end for reporting differential rights issues by Alternative Investment Funds (AIFs). A one-time reporting requirement was set for AIFs that filed their Private Placement Memorandum (PPM) with SEBI on or after March 1, 2020, and issued differential rights outside the standard guidelines. This report was initially due by February 28, 2025. Following the requests for more time from the AIF industry, the deadline has been extended to March 31, 2025, the Securities and Exchange Board of India (Sebi) said in a circular. Earlier, the regulator amended the AIF Regulations, 2012 in November regarding investor rights in AIF schemes. Thereafter in December, laid out guidelines for AIFs offering differential rights to certain investors. Under the guidelines, Sebi directed AIFs to grant investors' rights in investment and distribution of proceeds in proportion to their commitments in a scheme. In simple words, risks as

Sebi extends timeline for AIFs to hold their investments in demat form

Sebi on Friday said it has relaxed the timeline for alternative investment funds to hold their investments in dematerialised (demat) form. According to a circular, any investment made by an AIF on or after July 1, shall be held in dematerialised form only, irrespective of whether the investment is made directly in the investee company or is acquired from another entity. However, any investments made prior to July 1, are exempted from the requirement of being held in dematerialised form, except in specific cases, it added. Under the revised framework, the regulator stated that investments made before July 1, must be converted into dematerialised form before October 31. If, the investee company of the AIF has been mandated to facilitate dematerialisation or if the AIF exercises control over the company along with other Sebi-registered entities required to hold investments in demat form, the circular said. The markets watchdog has also granted exemptions to schemes of AIFs whose tenu

Market regulator Sebi plans to ease AIF debt investment regulations

Due to shrinking universe of unlisted debt, Sebi has proposed to allow Category II AIFs to invest in lower-rated paper

Budget boost for AIFs: Securities reclassified as capital assets

Securities sales to attract capital gains tax, not business income tax

DPIIT holds meeting with AIFs to promote capital mobilisation for startups

The Department for Promotion of Industry and Internal Trade (DPIIT) is holding a meeting with alternate investment funds (AIFs) here to discuss ways to promote funding for startups in the country, an official said. The official added that as many as 75 AIFs are expected to participate in the deliberations. Issues like capital mobilisation and promoting funding for startups in smaller cities will be discussed during the meeting, the official added. Under the Centre's Fund of Funds Scheme (FFS), support is extended to Sebi-registered AIFs, which in turn invest in startups. FFS was announced with a corpus of Rs 10,000 crore. The corpus is to be built up over the 14th and 15th Finance Commission Cycles (2016-2020 and 2021-2025) through budgetary support by the DPIIT. Another official said that these AIFs have committed to invest Rs 80,000 crore in startups and they have already pumped in Rs 20,000 crore so far. Among the prominent AIFs of leading startup investment firms supported un

Sebi disposes of showcause notice to Karvy Capital in AIF violation case

Capital markets regulator Sebi has disposed of a show cause notice issued to Karvy Capital Ltd and its key management personnel after finding no violations of alternative investment funds (AIF) rules. The order came after the Securities and Exchange Board of India (Sebi) examined the matter of Karvy Capital Alternative Investment Trust, and KCAP Alternative Investment Fund, to ascertain satisfaction of 'fit and proper' criteria by Karvy group AIFs registered with Sebi. Thereafter, Sebi observed certain non-compliances and accordingly initiated adjudication proceedings against Karvy Capital Ltd (KCL) and key management personnel -- Ajit Bhaskaran, Hitungshu Debnath (former director & COO), and K P Jeewan -- for the alleged violations of AIF norms. Thereafter, Sebi issued a show cause notice (SCN) to the noticees (KCL, Bhaskaran, Debnath and Jeewan) on June 7, 2024 for the alleged violations. In an order passed on January 2, Sebi said Karvy Capital Alternative Investment Trust and ..

A fifth of AIF investments questionable in terms of intent: Sebi official

Whole-time member Ananth Narayan calls for adopting accredited investor model

AIFs can play critical role in job creation: Former Sebi chief Sinha

Former Sebi chairman U K Sinha on Tuesday said alternative investment funds can play a crucial role in helping the economy meet the challenge of job creation. The career bureaucrat who served as the Sebi chairman for six years said there are other challenges confronting the economy as well, but singled out jobs as a critical function where AIFs can be of help. "Going by many of the macro data that we have, there are problems in our economy today, for example on employment generation," Sinha said while addressing a CII event on AIFs here. "The AIF industry does not exist for itself. It has to serve a larger purpose," said Sinha, who is widely credited to have played an important part in the AIF industry by introducing regulations on the aspect during his tenure as the Sebi chief. He said the AIF industry, which has invested around Rs 5 lakh crore as of now, reminds him of the mutual fund industry of 2012. The AMCs had Rs 6 lakh crore of assets under management and were also facing

Market regulator Sebi weighs easing norms for Alternative Investment Funds

With the checks and balances now in place, we are in a position to consider greater product and innovation flexibility to AIFs, Ananth Narayan, a whole-time member of Sebi board said

Kotak AMC set to enter AIF space; to launch Rs 2,000 cr private credit fund

Joins other fund houses that have already forayed into AIF space amid growing investor interest

Alternative investment funds gain currency as fundraise tops Rs 5 trillion

Funds raised and commitments in AIFs have surged 30% Y-o-Y

Market regulator Sebi notifies pro-rata distribution norms for AIFs

AIFs are niche investment vehicles for affluent investors with high entry barriers. These investments are drawn and deployed in tranches based on the investment opportunity

Kotak Alternate Asset Managers to raise Rs 1,600 cr via healthcare PE fund

The value of India's hospital industry is expected to reach 18.35 trillion rupees by 2027 and is growing at a pace of around 18.24%, according to government data

Pro-rata distribution mandate for AIFs may see tweaks in Sebi's final norms

AIFs are pooled investment vehicles for affluent investors with high entry barriers. These investments are drawn and deployed in tranches based on the investment opportunity