SEBI has issued clarification to Alternate Investment Funds that Large Value Fund for Accredited Investors (LVFs) shall be exempted from the requirement of intimating any changes in the terms of PPM through a merchant banker. LVFs may directly file any changes in the terms of PPM with SEBI, along with a duly signed and stamped undertaking by CEO of the Manager of the AIF (or person holding equivalent role or position depending on the legal structure of Manager)and Compliance Officer of Manager of the AIF.
SEBI Introduces New Modalities for Migration to AI-Only Schemes and Relaxations for Large Value Funds
9 December 2025
These changes aimed at simplifying compliance and enhancing operational flexibility for AIFs.