AIF Business refers to the end-to-end fund management activities undertaken by the Investment Manager in relation to AIFs, including fundraising, deal sourcing, investment execution, portfolio management, monitoring, and exits.
No, shortlisting does not guarantee a capital commitment. The selection process is conducted in two stages. Shortlisting by the Screening-Cum-Investment Committee constitutes only the first stage. Final commitment depends on:
• Regulatory Ceilings prescribed by PFRDA.
• Approval of the Pension Fund’s Investment Committee, based on the applicable terms and conditions decided by it.
No, as per Section 25 of the PFRDA Act, 2013, Funds cannot be invested in securities of the companies or Funds incorporated and operated outside India.
The AIF Cell under NPS Trust conducts due diligence, including but not limited to:
• Investment strategy evaluation
• Track record verification
• Governance review
• Risk assessment
• Legal and regulatory compliance
• Operational diligence
AIFs which invest primarily in equity or equity linked instruments or partnership interests of investee companies according to the stated objective of such fund.
AIFs are required to submit, inter alia, the following documents for evaluation by the AIF Cell:
Post-investment, AIFs shall provide periodic reporting, including, but not limited to:
• Quarterly portfolio updates
• Net Asset Value (NAV) statements
• Capital account statements
• Valuation reports
• ESG reporting (if applicable)
• Material event disclosures
Yes, the NBFoF may seek participation in the LPAC to facilitate effective oversight and governance.
This may include:
• Representation on the LPAC
• Participation in key governance matters
GPs are expected to adhere to high standards of professionalism and fiduciary responsibility, including:
• Adherence to strong institutional governance standards
• Regular and transparent communication with investors
• Timely and accurate reporting
• Strong alignment of interests with investors
• High standards of ethical conduct
• Focus on long-term value creation
The Contribution Agreement, along with any other relevant documents, shall be executed between the concerned Pension Fund scheme and the AIF.