Alternative Investment Funds under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations 2012 (“Regulations”) means any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which is a privately pooled investment vehicle which collects funds from investors & is not covered under the SEBI (Mutual Funds) Regulations, 1996, SEBI (CIS) Regulations, 1999 or any other regulations of the Board to regulate fund management activities. Broadly, Alternative Investment Fund is classified under Category I, Category II & Category III.
