Investor pro rata rights expanded, requiring pro rata investment and distribution rights with limited Board specified exceptions and pari passu default treatment. Investors in a scheme of an Alternative Investment Fund shall have pro rata rights in each investment and in distribution of proceeds, subject to Board specified exceptions; pre existing non pro rata rights and prior issued differential rights not covered by exceptions will be dealt with as directed by the Board. Other investor rights are to be pari passu, though differential rights may be offered to select investors as specified by the Board, and the pari passu rule excludes Large Value Fund for Accredited Investors.
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Investor pro rata rights expanded, requiring pro rata investment and distribution rights with limited Board specified exceptions and pari passu default treatment.
Investors in a scheme of an Alternative Investment Fund shall have pro rata rights in each investment and in distribution of proceeds, subject to Board specified exceptions; pre existing non pro rata rights and prior issued differential rights not covered by exceptions will be dealt with as directed by the Board. Other investor rights are to be pari passu, though differential rights may be offered to select investors as specified by the Board, and the pari passu rule excludes Large Value Fund for Accredited Investors.
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