The Securities and Exchange Board of India (Sebi) has introduced a fast-track mechanism for processing private placement memoranda (PPMs) of alternative investment funds (AIFs), aiming to reduce timelines and facilitate quicker deployment of capital. Revised Framework for AIF Launches Under the revised framework, AIFs — excluding large value funds for accredited investors (LVFs) — will be allowed to launch schemes and circulate PPMs to investors after 30 days of filing their application with Sebi, unless advised otherwise. For first-time schemes, AIFs can proceed with launches either after receiving Sebi registration or upon completion of 30 days from filing, whichever is later.