Overview

The Regulatory Environment

India’s investment fund sector is regulated by a robust framework under the Securities and Exchange Board of India (SEBI). The regulatory landscape encompasses guidelines for mutual funds, alternative investment funds, and Real Estate Investment Trusts, focusing on transparency and accountability. Recent reforms have made the sector more attractive to both domestic and international investors, with measures to ease investment norms and enhance risk management. Additionally, the establishment of GIFT City as a financial hub further bolsters India’s position in the global investment sector, offering a conducive environment for international financial services.

How Can we Support You?

ELP’s Investment Funds practice provides bespoke and innovative solutions to a diverse range of clients in the investment funds industry. Our expertise extends to alternative investment funds and mutual funds registered with SEBI, as well as funds operating in the IFSCA within GIFT City. Additionally, we assist managers of alternative investment funds, foreign funds (including sovereign and pension funds) seeking opportunities in the Indian market, family offices, and placement agents.

ELP’s Investment Funds practice provides bespoke and innovative solutions to a diverse range of clients in the investment funds industry. Our expertise extends to alternative investment funds and mutual funds registered with SEBI, as well as funds operating in the IFSCA within GIFT City. Additionally, we assist managers of alternative investment funds, foreign funds (including sovereign and pension funds) seeking opportunities in the Indian market, family offices, and placement agents.

With a versatile approach that spans various sectors and market stages, our practice excels in delivering strategic insights and support across the following areas: infrastructure, real estate, financial services, private equity, venture capital, venture debt, distressed assets, and listed equities.

Who Do We Serve?

The lawyers in our funds practice work with a variety of funds. In particular, they have worked extensively with:

  • Angel funds
  • Venture debt funds
  • Credit funds
  • Equity funds
  • Real Estate Funds

Services

Drafting Fund Documents 

We prepare fund documents such as private placement memorandums, trust deeds, investment management agreements and contribution agreements for our fund clients. These documents are usually prepared at the time of applying to a regulator for registration. Our work also extends to modifying these fund documents during the tenure of the fund, based on business contingencies and after obtaining the approval of all stakeholders.

Obtaining a Certificate of Registration 

Our team provides comprehensive assistance to our clients in registering with regulatory authorities including Securities and Exchange Board of India (SEBI) or the International Financial Services Centres Authority (IFSCA) as an AIF or an FME. As part of this process, we not only prepare all the required fund documents but also meticulously handle the preparation of all necessary documents for the registration application.

Structing of investments  

We advise our clients on best avenues for investing in India through funds and setting up of investment platforms for Indian investments.

Co-Investments 

We offer expert advisory services in structuring co-investment arrangements and, if required, assist in obtaining a Co-Investment Portfolio Manager’s license from SEBI.

Disputes 

Our dedicated litigation team provides invaluable support to clients regarding legal matters arising from Fund regulations, offering comprehensive assistance in commercial litigation or arbitration cases. Typical disputes include key person events, change or removal of the investment manager, and payment of placement fees.

GIFT City

The newly established GIFT City is India’s first and only International Financial Service Centre and is regulated by the International Financial Service Centre Authority (IFSCA). ELP has a dedicated office in GIFT City which allows us to offer our clients advice on IFSCA’s regulations for investment funds and related activities in GIFT City.

Thought Leadership

News & Media 17th Jul 2024

Sector Watch: AMCs seek parity between ULIPs, equity mutual funds from Budget 2024

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Alerts & Updates 2nd Jul 2024

SEBI limits any extension of an LVF’s tenure to five years

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Alerts & Updates 1st Jul 2024

New SEBI guidelines for borrowing by Category I and II AIFs

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Alerts & Updates 11th Jun 2024

RBI Circular Irons Out Two Kinks in its Overseas Investment Regime

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Alerts & Updates 15th May 2024

SEBI Requires AIFs’ Investment Managers’ Key Personnel to be NISM Certified

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News & Media 14th May 2024

AIFs reel as regulatory diktats mount

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Alerts & Updates 9th May 2024

SEBI Releases a Standardised Reporting Format for Investment Advisers

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Alerts & Updates 7th May 2024

100% participation permitted for NRIs, OCIs and Resident individuals Indians in FPIs based out of IFSCs in India

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Recent Matters

Investment Funds

Advised an Asset Management Company and its Indian subsidiary on structuring, formation and relocation of its India focused international funds...
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Advised an Asset Management Company and its Indian subsidiary on structuring, formation and relocation of its India focused international funds (based out of Singapore) to the Gujarat International Finance Tec-City (GIFT City).
Investment Funds

Assisted Somerset Indus Capital Partners in setting up an offshore fund.

Assisted Somerset Indus Capital Partners in setting up an offshore fund.
Investment Funds

Advised India Infoline Finance in setting up a Category II and Category III AIF.

Advised India Infoline Finance in setting up a Category II and Category III AIF.
Investment Funds

Advised Monsoon Capital Advisors in setting up a Category III AIF.

Advised Monsoon Capital Advisors in setting up a Category III AIF.
Investment Funds

Advised Capital India Asset Management Private Limited in setting up a Category II AIF.

Advised Capital India Asset Management Private Limited in setting up a Category II AIF.
Investment Funds

Advised Google Capital in setting up an offshore fund.

Advised Google Capital in setting up an offshore fund.
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People

What People Say

“Good knowledge of the law,” a client attests to the team’s willingness to “go the extra step.”

Chambers Asia Pacific

They remain very professional and calm, giving good assistance while keeping a healthy position between parties.

Chambers Asia Pacific

Great team, very approachable and practical in advising. Good at closing the deal quickly.

AsiaLaw

ELP are able to work on tight schedules. They know the business and take the time to study my business domain.

Chambers Asia Pacific

They are always available, responsive and very accommodating on scheduling calls. ELP provide practical, reasonable advice and synthesise complex issues.

Chambers Asia Pacific

Great team, very approachable and practical in advising. Good at closing the deal quickly.

AsiaLaw