CIR 3.1.6

A Fund is a Private Equity Fund if it:

(a) invests in unlisted companies, by means of Shares, convertible debt or other instruments carrying equity participation rights or reward; or
(b) participates in management buy-outs or buy-ins,

and does not meet the criteria in CIR Rule 3.1.13 to be a Venture Capital Fund.

Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] DFSA RMI279/2020 (Made 28th October 2020). [VER29/11-20]