SEBI issues interpretive letter, clarifies disclosure requirements by AIFs in placement-memorandum

SEBI issues interpretative letter to Peninsula Brookfield India Real Estate Fund under Informal Guidance Scheme, 2003 read with SEBI (Alternative Investment Funds) Regulations, 2012 (‘AIF Regulation’), clarifies that AIF shall disclose details of all associates in which their sponsors, managers, directors or partners hold at least 15% stake (either individually or collectively) in its information / placement memorandum; Further clarifies that disclosure of associates is to be made for entities incorporated in India and outside India, where the threshold of 15% is triggered; States that AIF shall disclose disciplinary history of directors independent or otherwise, in its placement memorandum: SEBI