Regulatory Alerts2025-05-23
Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2025
The Securities and Exchange Board of India issued the 2025 Amendment Regulations to modify the investment scope for Category II Alternative Investment Funds under the 2012 Regulations. These amendments substitute Regulation 17(a) to permit Category II AIFs to invest in investee companies or units of Category I and other Category II AIFs as disclosed in the Placement Memorandum. The regulations further define that Category II AIFs must primarily invest in unlisted securities and/or listed debt securities rated 'A' or below by a registered credit rating agency.
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