Business Update12 Apr 2024, 03:43 am
EFC (I) Limited Announces Entry into Alternative Investment Fund Sponsoring and Management
AI Summary
At a recent Board meeting, EFC (I) Limited announced its plans to sponsor and manage a Category II Alternative Investment Fund (AIF) under SEBI regulations. The company intends to incorporate an LLP, 'EFC Alternate Investment LLP', and a wholly-owned subsidiary, 'EFC Investment Advisors Private Limited', to act as the sponsor and investment manager of the AIF, respectively. The proposed AIF, 'EFC Rental Yield Fund', aims to acquire and lease premium commercial real estate as managed/serviced office spaces.
Key Highlights
- EFC (I) Limited to sponsor and manage a new Category II AIF
- Proposed incorporation of EFC Alternate Investment LLP as a sponsor
- Proposed incorporation of EFC Investment Advisors Private Limited as the investment manager
- The AIF aims to acquire and lease commercial real estate for managed/serviced office spaces
- The Board of Directors approved these proposals at their recent meeting