Co-investment Portfolio Manager status established, with tailored exemptions and AIF-aligned investment and exit rules. Creates a Co-investment Portfolio Manager category for Managers of Category I/II AIFs who serve only investors of such AIFs and invest solely in unlisted securities of the same investee companies; aligns definitions with AIF Regulations; permits designation of a Key Investment Team member meeting AIF principal-officer criteria as principal officer. Carves out specified regulatory requirements for Co-investment Portfolio Managers, requires 100% of AUM to be invested in relevant unlisted investee companies, mandates that co-investor terms and exit timing be no more favourable or different from the AIF, and allows performance calculation as agreed with clients; updates Form A and disclosure provisions accordingly.
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Co-investment Portfolio Manager status established, with tailored exemptions and AIF-aligned investment and exit rules.
Creates a Co-investment Portfolio Manager category for Managers of Category I/II AIFs who serve only investors of such AIFs and invest solely in unlisted securities of the same investee companies; aligns definitions with AIF Regulations; permits designation of a Key Investment Team member meeting AIF principal-officer criteria as principal officer. Carves out specified regulatory requirements for Co-investment Portfolio Managers, requires 100% of AUM to be invested in relevant unlisted investee companies, mandates that co-investor terms and exit timing be no more favourable or different from the AIF, and allows performance calculation as agreed with clients; updates Form A and disclosure provisions accordingly.
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