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<h1>Investment concentration limits govern alternative investment funds' allocations, co investment terms, related party approvals and liquidity rules.</h1> Regulation 15 prescribes permissible investment channels and investment concentration limits for Alternative Investment Funds, allows overseas investments subject to RBI and Board conditions, authorises a Nominated Investor role, restricts offers of fund units to other funds, and mandates that co investments not be on more favourable terms than the fund. Transactions with associates, related funds or certain large investors require supermajority investor approval with exclusion of conflicted large investors from voting. Uninvested funds must be parked in high quality liquid instruments pending deployment and investments are required to be held in dematerialised form subject to exceptions and Board specifications.