×
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Sebi nod for 7 alternative investment fund entities

Last Updated 17 August 2012, 16:44 IST

 Market regulator Sebi has allowed seven alternative investment funds (AIF) to set shop in the country under a newly formulated route, which allows pooling of funds for investments in areas like real estate, private equity and hedge funds.

The approval has been given to all the seven AIFs by the Securities & Exchange Board of India (Sebi) in a period of less than one month, as per the information available with the market regulator.


Sebi had notified its guidelines in May for AIFs, which are funds established or incorporated in India for the purpose of pooling in of capital from Indian and foreign investors for investing as per a pre-decided policy. As per Sebi data, six AIFs have got registered with the regulator during August 2012, while one was granted registration on July 23.

Sebi has decided that the promoters of listed companies can offload 10 per cent of equity to AIFs such as such as SME Funds, Infrastructure Funds, PE funds and Venture Capital Funds registered with the market regulator to attain minimum 25 per cent public holding.

The seven AIFs that have got registered with Sebi include IFCI Syncamore India Infrastructure Fund, Utthishta Yekum Fund, Indiaquotient Investment Trust, Forefront Alternate Investment Trust, Excedo Realty Fund, Sabre Partners Trust and KKR India Alternate Credit Opportunities Fund.

ADVERTISEMENT
(Published 17 August 2012, 16:44 IST)

Follow us on

ADVERTISEMENT
ADVERTISEMENT