Private Equity

Fund News

Sebi allows PE firms to invest in Mutual Fund AMCs

Mint  

The Securities and Exchange Board of India (Sebi) has decided to tweak rules governing the mutual fund industry by allowing private equity firms to back Asset Management Companies (AMCs). It has also permitted the set-up of self-sponsored AMCs. Currently financial services firms and corporates are allowed to back an AMC. Sebi said a private equity firm or its manager should have at least five years of experience managing funds and investing in the financial sector, and should have managed committed and drawn-down capital of not less than INR 50 Billion on the date of application.