Business Standard – Some of the world’s top hedge funds have been granted direct entry into the Indian stock markets, nearly three months after the Securities and Exchange Board of India (Sebi) imposed curbs on foreign investments through the participatory note (P-note) route.
Since the curb, the number of FIIs in India has swelled by 123 to 1,248.
The funds include Vikram Pandit-founded Old Lane LP, which was acquired by Citigroup early last year, and Oz Management, which is ranked among the world’s 20 largest hedge funds.
While putting the restrictions, Sebi had asked the funds to invest in the Indian market directly by getting themselves registered as foreign institutional investors (FII).
Some of the other hedge funds that have been given FII status include Eton Park, which recently bought 5 per cent stake in Reliance Mutual Fund, California-based Oaktree Capital Management and Ecofin.
