On February 5, 2020, the Securities and Exchange Board of India (“SEBI”) issued a circular (“Circular”) introducing significant changes to the existing legal regime concerning alternative investment funds (“AIFs”). AIFs are privately-pooled investment funds which collect funds from investors, whether Indian or foreign, for investing in accordance with a defined investment policy for the benefit of the investors. AIFs are governed by the SEBI (Alternate Investment Fund) Regulations, 2012 (“AIF Regulations”).

Private Funds Update - [Download pdf]