AIF

Investcorp Real Estate Yield Fund and six others have settled with markets regulator Sebi a case of flouting Alternate Investment Funds (AIF) rules on payment of Rs 25.5 lakh towards settlement amount. Apart from Investcorp Real Estate Yield Fund, Investcorp India Asset Managers, Ajay Kumar, Niraj Sirsalewal, Ritesh Vohra, Gaurav Sharma and IDBI Trusteeship Services Ltd have settled the case. The order came after the entities filed applications proposing to settle the proceedings that may be initiated against them for the violation of the provisions of the AIF Regulations, through a settlement order and remitted Rs 25.50 lakh. In its settlement order passed on Friday, Sebi said the "specified proceedings, in respect of which the notice was issued, are hereby settled in respect of the applicants". While examining the matter, Sebi observed that the tenure of the Investcorp Real Estate Yield Fund had been extended beyond 2 years and that its investments had not been liquidated within

Proposes allowing creation of special purpose vehicles by fund management entities

Of the total investments by value, 39 per cent in FY24 went into late-stage startups, compared to only 18 per cent in FY14

Alternate investment funds (AIFs) have sought from the government specific funds for investments in new-age, sunrise and deep-tech startups with a view to promote innovation in the country, an official said. They have also urged the government to announce a fresh round of funds under the Fund of Funds for Startups (FFS) scheme. These demands were raised during a meeting between AIFs and the officials of the Department for Promotion of Industry and Internal Trade (DPIIT) here last week. The department held discussions with AIFs on ways to promote funding for startups in the country, the official said. "In the meeting AIFs demanded more funds under FFS. They demanded an increase in the duration of FFS from the existing 12 years," the official added. At present FFS is sector agnostic. The AIFs have suggested specific funds for the sunrise and new-age sectors. Issues like capital mobilisation and promoting funding for startups in smaller cities were also discussed during the meeting.

The meeting saw the participation of more than 70 AIFs, with discussions focused on capital mobilisation and promoting funding for startups in smaller cities

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

Plan to make representation to finance ministry, Sebi for level playing field

The AMC expects the private credit segment to grow to $3.5 trillion by 2028 in India

Due diligence has been mandated for schemes where investors from the same group contribute 50 per cent or more to the corpus before availing the benefits of QIB status

Golden Growth Fund, which is a real estate focused Alternative Investment Fund (AIF), plans to raise Rs 400 crore from investors to buy land and develop real estate projects in the national capital. In a statement, Golden Growth Fund, a Category 2 AIF, said it has successfully secured Rs 25 crore in the first funding round, which concluded last month. "This initial capital infusion will be used to acquire a prime land parcel in South Delhi," it said. The acquisition is the first project under its strategic plan to develop high-end residential properties in the region. Grovy India Ltd, which has completed over 100 real estate developments in Delhi, will construct this project. "This first closing of the fund is a significant step forward in our mission to transform the luxury real estate landscape in Delhi. "Our commitment to acquiring and developing premium land parcels in South Delhi is now being realized, and we anticipate that our ongoing funding efforts will further solidify o

Allocations to Mutual Funds, PMS, AIFs, and Gold are anticipated to see modest increases, while Fixed Income and Physical Real Estate are likely to experience a decrease.

Capital markets regulator Sebi on Monday came out with guidelines for borrowing by Category I and Category II alternative investment funds (AIFs), along with the maximum permissible limit for extension of tenure by Large Value Fund for Accredited Investors (LVFs). Under the rule, Category I and II AIFs are not allowed to borrow or use leverage for investments, except in limited cases for temporary needs. These AIFs are allowed to borrow funds to address temporary funding needs or manage day-to-day operational expenses, with specific limitations. Such borrowing is permitted for up to 30 days, can occur no more than four times in a calendar year, and must not exceed 10 per cent of the investable funds. To facilitate ease of doing business and provide operational flexibility, Sebi has allowed Category I and Category II AIFs to borrow for the purpose of meeting temporary shortfall in amount called from investors for making investments in investee companies ('drawdown amount'), accordin

Quest Investment Advisors on Monday announced the launch of its Rs 700 crore new open-ended Category III Alternative Investment Fund (AIF). The Quest Smart Alpha Sector Rotation Series II follows the success of their previous AIF, the Quest Smart Alpha - Sector Rotation, which raised approximately Rs 500 crore since its inception in May 2022, Quest Investment said in a statement. Speaking on the launch of the new fund, Rajkumar Singhal, CEO, Quest Investment said, For over 17 years, our endeavour has always been to provide differentiated ideas to our investors which capture the evolving listed equity market.

Markets regulator Sebi has amended alternative investment funds (AIF) norms specifying maximum permissible limit for extension of tenure by 'Large Value Funds'. In a notification, Sebi said a large value fund for accredited investors may be permitted to extend its tenure up to five years. This is subject to the approval of two-thirds of the unit holders by value of their investment in the large value fund for accredited investors. The extension in tenure of any existing scheme of a large value fund for accredited investors will be subject to such conditions as specified by the regulator. The move is aimed at providing clarity to investors in Large Value Funds for Accredited Investors (LVFs) about their investment horizon. Large Value Fund (LVF) for accredited investors means an AIF or scheme of an AIF in which each investor (other than the manager, sponsor, employees or directors of the AIF or employees or directors of the manager) is an accredited investor and invests at least Rs

Churn in holdings will attract higher tax; no-pass through advantage like MFs, AIFs

Markets regulator Sebi on Tuesday issued a circular outlining the filing requirements for alternative investment funds (AIFs) schemes that opt for a dissolution period to deal with their unliquidated investments. The move aims to provide flexibility to AIFs and their investors in managing such investments that are not sold due to lack of liquidity. In its circular, Securities and Exchange Board of India (Sebi) said AIF schemes entering into dissolution period must file an information memorandum with it through a merchant banker before expiry of the liquidation period or additional liquidation period of the scheme. The format for this information memorandum and the due diligence certificate to be submitted by the merchant banker. As per Sebi's AIF rules, the information memorandum must include details such as the name of the AIF, registration number, the names of its trustees or directors, the scheme's name, and financial details related to unliquidated investments. In addition, fo

Changes to MF overseas investment framework, ESG disclosures also on the cards at Thursday's board meet

The rules, tightened to prevent evergreening of loans, were partially eased later in March

Biggest deployment made in real estate sector followed by IT and financials

Move to help regularise units issued to FPIs amid concerns on fee outgo