Regulatory Alerts2025-11-19
Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2025
The Securities and Exchange Board of India (SEBI) issued the Third Amendment Regulations, 2025, to further amend the Alternative Investment Funds Regulations, 2012. The regulations introduce a new category of 'Accredited Investors only fund' and permit existing funds launched prior to this notification to convert to this category or to a 'large value fund for accredited investors' subject to Board-specified conditions. Additionally, the amendments update investor count exclusions, substitute terminology throughout the regulations, and assign trustee responsibilities to the manager for Accredited Investors only funds.
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