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ARTICLE · 17 SEPTEMBER 2025

SEBI Co-Investment Scheme Framework

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The wait is finally over. On September 8, 2025, Securities Exchange Board of India ("SEBI") notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2025 introducing a co-investment scheme...

IndiaFinance and Banking
Shagoofa Rashid Khan
Shagoofa Rashid Khan
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The wait is finally over. On September 8, 2025, Securities Exchange Board of India ("SEBI") notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2025 introducing a co-investment scheme ("CIV scheme") framework under the SEBI (Alternative Investment Funds) Regulations, 2012 ("AIF Regulations") through introduction of Regulation 17A. Further, pursuant to its powers under Regulation 17A(7), SEBI issued circular dated September 9, 2025 prescribing operational and other conditions in relation to co-investments ("CIV Circular"). Below is a summary of the scope, conditions and other features of CIV Scheme framework under the AIF Regulations read with the CIV Circular.

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