What is AIF, in three categories.
AIFs are pooled, SEBI-regulated vehicles for sophisticated investors. ₹1 crore minimum. Three categories, each with a different risk, return, and lock-in profile.
Three categories. Three jobs.
Catalyst capital
VC, infra, social impact, SME funds. Government-encouraged sectors with longer lock-ins (7–10 yrs typical).
Venture Capital · SME · Infra · Social Venture
The HNI workhorse
Real estate, private equity, private credit, structured products. No leverage. Often 6–8 year vehicles with milestone returns.
Private Equity · Real Estate · Private Credit · Distressed Assets
Long-short alpha
Hedge fund-style strategies: long-short, market-neutral, arbitrage. Can use leverage and derivatives. Higher liquidity, higher volatility.
Long-short Equity · Market Neutral · Quant · Arbitrage
How the three categories differ.
Same regulator. Different rules.
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