Neo Asset Management Closes INR 2,575 Cr Maiden Special Credit Opportunities Fund In a short period of 15 months, the Mumbai-based fund claims to have already made 12 investments and has seen two successful exits.
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Neo Asset Management announced the successful closure of its maiden special credit opportunities fund, with an overall raise of INR 2,575 crore.
High-net-worth individuals (HNIs) and multi-family offices invested in the fund.
Hemant Daga, CEO of Neo Asset Management Pvt Ltd, said, "We are overwhelmed by the client response in making our Special Credit Opportunities Fund I, the largest maiden credit fund raised in the country. We are also seeing tremendous response from clients in our infrastructure income strategy and our core credit strategies, which reflects a massive demand for yield and regular income from clients."
Neo Asset Management is the asset management arm of Neo Wealth and Asset Management, providing credit and regular income solutions to client needs across various asset classes in India: private credit, real assets, and core credit.
Very recently, Neo raised USD 35 million as growth capital from Peak XV Partners (Sequoia India). In a short period of 2 years, Neo claims to have advised more than 1500 clients with INR 30,000 crore of AUA and over INR 6,000 crore of AUM.
Neo Special Credit Opportunities Fund is a SEBI-approved, Category II AIF aimed at providing customised credit solutions to operating profitable companies that cannot be catered to by traditional channels of financing.
In a short period of 15 months, the fund claims to have already made 12 investments and has seen two successful exits. It aims to deliver about 22-24% of its gross IRR to its investors.
Nitin Jain, Founder and Chairman of Neo Wealth and Asset Management, said, "As India progresses towards becoming the world's 3rd largest economy, private credit will play a pivotal role in meeting the industry's patient and flexible capital requirements."
"At Neo Asset Management, we strive to leverage our multi-decadal institutional expertise to provide innovative alternative solutions to our clients," he added.
