India Infoline has reportedly raised Rs 628 crore through its first Alternative Investment Fund (AIF), IIFL Income Opportunities Fund. This is the largest amount raised so far by any AIF. As per SEBI's guidelines notified in May last year, AIFs are funds set up for the purpose of raising capital for investing in a pre-determined policy.
IIFL Income Opportunities Fund, a category II AIF, is a closed-ended debt scheme that will invest in debt-related instruments of good corporates with good periodic cash flows. A Category II AIFs, which can include private equity funds or debt funds, have no investment restrictions but are not allowed to leverage.
India Infoline offers financial services ranging from equities, derivatives, commodities, wealth management, asset management, insurance, fixed deposits, loans, investment banking, GoI bonds and other small savings instruments.
