Bankers counsel in India have branded the Securities
and Exchange Board of Indias (Sebi) new rules on
alternative investment funds (AIF) unnecessary and
Sebi this month released new rules to govern private pools
of capital, including private equity (PE), venture capital (VC)
and PIPE (private investment in public equity) funds.
The move aims to create a more comprehensive legal framework
to promote AIF as a distinct asset class separate from promoter
holdings, creditors and public investors.
Indias AIF were previously governed by the 1996...