The recent amendments to SEBI regulations mandate that the key investment team of Alternative Investment Funds must include at least one key personnel with relevant certification, this requirement applies to both new AIF registration applications and scheme launches. Additionally, at least one key personnel among associated persons in the key investment team of the AIF Manager must obtain certification from the National Institute of Securities Market by passing the NISM Series-XIX-C: Alternative Investment Fund Managers Certification Examination.

Existing AIF schemes and pending scheme launches must comply with this certification requirement by May 09, 2025. The trustee or sponsor of the AIF is tasked with ensuring compliance and including it in the ‘Compliance Test Report’ as per SEBI guidelines. This circular is effective immediately.

Please feel free to reach out Divdrisht Singh at [email protected]  or to Deepak Joshi at [email protected] in case of any queries/views.

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