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Alternative Market Briefing

India’s regulator permits 73 alternative investment funds to launch

Wednesday, August 28, 2013

Komfie Manalo, Opalesque Asia:

India’s market regulator SEBI (Securities and Exchange Board of India) announced the approval of 73 entities to launch Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds so far this year.

According to a report by The Hindu, those approved to operate AIFs include KKR India, Arth Capital, Landmark Opportunity Fund, HBS Raksha Movies, Tata Alternative Investment Fund, Monsoon Alternative Investment Trust, DSP Blackrock Alternative Investment Fund and Edelweiss Alternative Investment Trust.

SEBI issued guidelines for AIFs in May and outlined the three categories in which these special class of market intermediaries could operate. Under SEBI rules, all AIFs are regulated, including those operating as private equity funds, real estate funds and hedge funds.

The three categories are; Category-I AIFs, which include Social Venture Funds, Infrastructure Funds, Venture Capital Funds and SME Funds; Category-II AIFs are those that have no limitations in terms of investment but are not allowed to raise debt except for meeting day-to-day requirements; and Category-III AIFs include hedge funds and those trading to generate short-term returns.

In April this year, ......................

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