Current Affairs - Miscellaneous - Discussion

Under "Category II Alternate Investment Fund" (AIF), for the first time SEBI (Securities and Exchange Board of India) has approved an "airport' specific fund". The name of the fund is "Taking Off To the Future Airport Fund". It can raise a capital amounting to 1.5$bn (Rs. 10,000 crore). The Sponsor and Investment Manager of the fund is based in Chennai and is termed as 'Taking Off To The Future Investment Management LLP'. Gigi George leads the management and operation of 'Sponsor/Investment Manager'.A minimum capital contribution of Rs. 3500 crore and a maximum of Rs. 7000 crore is targeted by the fund. India is presently the third largest aviation market in the world.