In the first nine months of 2017, Category 3 Alternative Investment Funds (AIFs) have raised Rs8,521 crore (approximately $1.3 billion), which is more than double of what these funds managed to raise in the whole of 2016, according to data from markets regulator Securities and Exchange Board of India (Sebi).
In 2016, Category 3 Alternative Investment Funds managed to raise a total of Rs3,316 crore, data shows. Category 3 AIFs are hedge funds that invest in public markets.
The AIF regulations were notified by Sebi in 2012 and divides privately managed funds into three categories. Categories 1 and 2 catering to venture capital, private equity and debt and infrastructure funds.
