Co-investment rules require shelf placement memoranda and accredited investor-only participation for AIF co-investment schemes. The regulations create a regulated co-investment regime for Category I and II AIFs by defining co-investment and co-investment scheme, requiring a shelf placement memorandum filed through a merchant banker prior to offering co-investment opportunities, restricting eligibility to accredited investors, limiting each co-investment scheme to a single investee company, prohibiting investment in AIF units, aligning co-investor exit timing with the AIF scheme's exit, and disapplying certain regulatory requirements for co-investment schemes as specified.