We are delighted to share our most recent and comprehensive research paper discussing at length the legal, tax, regulatory, commercial and strategic issues concerning the setting up of India focussed funds.

Over the past few years, the investment funds industry has been the subject of a series of legislative and regulatory interventions designed variously to protect investor interests as well as to enlarge the scope of investment activity. From an Indian fund formation perspective, this is evidenced from the introduction of codes of conduct for various stakeholders, the enhanced exposure limits for domestic institutional LPs and the much-anticipated roll out of the concept of accredited investors. Similarly, the Government of India has announced a slew of measures to incentivise sponsors to set up funds in GIFT City with a view to developing GIFT City as a reputable international financial services centre.

As India reignites interest among foreign investors following the disastrous pandemic-fuelled slowdown, the levels of India-focused fund activity have begun to increase. Many global players have upsized their India allocations. However, the rules of engagement between the principal counterparties continue to evolve particularly since LPs are keener than ever to secure a suitable bouquet of protections.

Against this background, we welcome you to read our paper, ‘The Beginning of the Fund Lifecycle for India Focused Funds’.