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of <h1>SEBI Amends AIF Regulations: AIFs Can Invest in Other AIFs with Disclosure and Consent; New Leverage and Conduct Rules.</h1> The Securities and Exchange Board of India (SEBI) has amended the Alternative Investment Funds (AIF) Regulations, 2012. AIFs can now invest in other AIFs without being labeled as a Fund of AIFs, provided they disclose this in their Private Placement Memorandum (PPM) and obtain consent from two-thirds of unit holders. Category III AIFs can leverage up to twice their portfolio value, excluding investments in other AIFs. Key management personnel must adhere to a Code of Conduct, and changes in personnel must be disclosed. Waivers and consent requirements for investment committees have also been clarified.
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