Neo Asset Management bags Rs 2,575 Cr for Credit Opportunities Fund
The fund, which aims to deliver a 22-24% gross IRR to investors, is a SEBI-approved Category II AIF that provides tailored debt solutions to profitable companies.
Neo Asset Management has raised Rs 2,575 crore for its inaugural Special Credit Opportunities Fund from high net worth individuals (HNIs) and Multi-Family Offices.
The fund, which aims to deliver a 22-24% gross IRR to investors, is a SEBI-approved Category II AIF that provides tailored debt solutions to profitable companies.
In 15 months, the Fund has made 12 investments and two successful exits, according to a statement.
“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.” said, Nitin Jain, Founder and Chairman of Neo Wealth & Asset Management.
“We strive to leverage our multi-decadal institutional expertise, to provide innovative alternative solutions to our clients,” he added.
Neo Asset Management, the asset management arm of Neo Wealth & Asset Managemen, recently raised $35 million as growth capital from Peak XV Partners to further catalyse initiatives.
Edited by Affirunisa Kankudti