NISM Series XIX-D case studies
NISM Series XIX-D · Put your knowledge to work in context.
NISM-Series-XIX-D is the National Institute of Securities Markets certification examination for Category I and II Alternative Investment Fund Managers. NISM is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India, and it carries out capacity building activities aimed at enhancing quality standards in the securities markets. The NISM Series XIX-D case studies are 5 cases and about 3,176 words.
1Associate Exit and Co-Investment in a Category II Fund
A Category II private equity fund has a corpus of Rs 600 crore and is at final close. The manager proposes to invest Rs 150 crore in Target Ltd, whose 38% shareholder is a wholly owned affiliate of the manager.
670 words, about 3 min2Tenure Expiry with Unsold Assets
A Category II fund raised Rs 500 crore with an eight-year tenure ending 31 March. At expiry, two unlisted portfolio companies, carried at 18% of corpus, remain unsold.
636 words, about 3 min3Launch Thresholds for a First-Time Manager
A first-time manager has net worth of Rs 1.6 crore and proposes a single 'hybrid' scheme that will invest in early-stage unlisted companies and in listed debt. The scheme's stated corpus is Rs 18 crore.
627 words, about 3 min4Fee Stack, Valuation Mark-Up and Undisclosed Affiliate Charges
A Category II fund has a corpus of Rs 400 crore. The PPM discloses a 2% annual management fee on committed capital for eight years, including uninvested cash, and a 20% performance fee calculated annually on the scheme's NAV, including upward revisions to unlisted portfolio marks.
629 words, about 3 min5Cross-Scheme Cash and Allocation of a Bridge Round
A manager operates two Category II schemes: Scheme A, a 2020-vintage fund with Rs 250 crore committed, and Scheme B, a 2022-vintage fund with Rs 400 crore committed. Both have the same investment team but separate LPs and bank accounts.
614 words, about 3 min