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Dec 31, 2020

AIFs in International Financial Services Centres

International Financial Services Centres Authority on December 9, 2020 has issued a Circular amending the norms governing the set-up of AIFs in International Financial Services Centres (‘IFSC’) under SEBI (IFSC) Guidelines, 2015 (‘IFSC Guidelines’) and the operating guidelines dated November 26, 2018. The amendment has been introduced to align the current framework governing AIFs in IFSCs with the international framework. The key changes introduced by the Circular deal with: (i) engagement by an AIF in leveraging activities and the conditions thereof; and (ii) co-investment in a portfolio company through a segregated portfolio by issuing a separate class of units and the conditions thereof.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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