SEBI Revises AIF Norms | Tenure for Large Value Close-Ended AIFs for Accredited Investors Can Be Extended Up to 5 Years
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- Last Updated on 9 August, 2024
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Notification No. SEBI/LAD-NRO/GN/2024/198, Dated: 05.08.2024
SEBI has notified an amendment to the SEBI (Alternative Investment Funds) Regulations, 2012. A proviso to regulation 13(5) has been substituted. As per the amended norms, a large value close-ended Alternative Investment Fund for accredited investors may now be permitted to extend its tenure up to five years subject to the approval of two-thirds of the unit holders by the value of their investment in the large value fund for accredited investors. Earlier, no such restriction was prescribed.
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