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<h1>Alternative Investment Funds: definitions, investor accreditation thresholds, accredited-investor fund types, fund categories and lifecycle terms.</h1> Regulation 2 defines key terms for Alternative Investment Funds: an AIF is a privately pooled trust, company, LLP or body corporate investing per a defined policy and excluded from mutual fund regulation; specific entities are carved out. The regulation sets accreditation rules and thresholds for accredited investors, creates 'Accredited Investors only fund' and 'large value fund for accredited investors' categories, defines fund types (debt, hedge, infrastructure, private equity, venture capital, SME), and establishes lifecycle and governance terms including corpus, investable funds, units, manager, sponsor, investee company, liquidation and change in control.