The Capital Markets (Alternative Investment Funds) Regulations

3. Requirements for approval

Edition: 2023-12-15 · In force

3. Requirements for approval

(1)A person seeking to operate an alternative investment fund shall apply to the Authority for approval to operate an alternative investment fund.

(2)No entity or person shall operate or hold itself out as an alternative investment fund unless it has applied for and obtained approval from the Authority.

(3)A fund manager shall seek approval to operate an alternative investment fund which can be any of the following—

(a)a debt fund and debt-linked fund;

(b)an equity and equity-linked investment;

(c)a hedge fund;

(d)a property fund;

(e)an infrastructure fund; or

(f)any other alternative investment fund.

(4)An application for approval to operate an alternative investment fund shall be in the form specified in the First Schedule and be accompanied by a non-refundable application fee specified in the Third Schedule.

(5)The fund manager shall be required to pay an annual regulatory fee as specified out in the Third schedule.

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Source: Kenya Law