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
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