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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