AIFs are defined as “privately held and managed pool of investment fund of either domestic or foreign origin, organised in the form of a body corporate, company, LLP (limited liability partnership), or trust” under Regulation 2(1) (b) of the SEBI (Alternative Investment Funds) Regulation, 2012. Any of the above-mentioned forms can be used to create an AIF. AIFs are private pooled investment funds that cannot be purchased through public offerings (such as Initial Public Offerings) like Mutual Funds or other collective investment schemes.
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