AIF Commitments Grow to ₹15.74 Lakh Crore as of December 2025, Shows SEBI Data

Total commitments to Alternative Investment Funds (AIFs) in India reached ₹15.74 lakh crore as of December 2025, according to data released by the Securities and Exchange Board of India (SEBI). The figure represents a 20.6% increase from ₹13.05 lakh crore recorded in December 2024. 

The data shows growth across all 3 AIF categories. Category II funds continued to account for the largest share of commitments, while Category III funds recorded the fastest expansion during the period. 

Category II Funds Hold the Largest Share 

Commitments to Category II AIFs stood at ₹11.64 lakh crore in December 2025, compared with ₹10.02 lakh crore in the previous year. This shows a 16.1% year-on-year increase. 

Category I AIFs reported commitments of ₹97,988 crore, up from ₹84,862 crore in December 2024, marking a rise of about 15.5%. 

Category III AIFs saw the highest growth rate. Commitments in this category increased to ₹3.11 lakh crore, compared with ₹2.17 lakh crore a year earlier, representing 43.3% growth. 

Funds Raised During the Year 

The amount of capital raised by AIFs also increased during the period. As of December 2025, the industry had raised ₹6.78 lakh crore, up from ₹5.27 lakh crore in December 2024, showing a 28.7% increase. 

Category II AIFs raised ₹4.25 lakh crore, compared with ₹3.51 lakh crore in the previous year, showing 21.2% growth. 

Category III AIFs recorded the sharpest rise in funds raised, which increased 51.2% to ₹1.96 lakh crore. Category I AIFs raised ₹57,679 crore, up 23.1% from ₹46,845 crore a year earlier. 

Investments Made by AIFs 

As per the data, investment activity also increased during the year. Total investments by AIFs reached ₹6.45 lakh crore in December 2025, compared with ₹5.06 lakh crore in December 2024, representing 27.4% growth. 

Category II AIFs invested ₹3.84 lakh crore, while Category III funds invested ₹2.13 lakh crore during the period. Category I AIFs reported investments of ₹47,316 crore. 

Read More: SEBI Tightens AIF Disclosure Norms; Mandates ISIN-Level NAV Reporting! 

Conclusion 

The data indicates a year-on-year rise in commitments, capital raised, and investments across all AIF categories by December 2025. Category II funds continued to account for the largest share of activity within the segment. 

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