Sebi quizzes AIFs on co-investment deals

Capital market regulator the Securities and Exchange Board of India (Sebi) wants to know details of deals that private equity and venture capital funds have cut in the past two years with larger investors picked from inside and outside the fund pool. In an email to all alternative investment funds (AIFs), Sebi has asked them to disclose information on co-investments made by various co-investors from April 1, 2019 to March 31, 2021 in unlisted securities of investee companies. Ultra-high net worth individuals and institutional investors at times enter into 'co-investment' agreements with fund managers over and above contributing to the blind pools of AIFs.