Neo Alternative Asset Managers has raised Rs 1,500 crore ($158 million) in the first close of its Neo Infra Income Opportunities Fund II, per an announcement. It has a total target corpus of Rs 5,000 crore.
The fund will focus on operational assets that already generate revenue, mainly in roads and renewable energy, with payments backed by long-term government contracts.
The idea is to offer a steady income with relatively lower risk, as an alternative to traditional fixed-income options, Neo Alternative Asset Managers said in a statement.
“The first close … reflects growing investor confidence in infrastructure income as a resilient asset class,” Hemant Daga, co-founder of Neo Group & CEO of Neo Alternative Asset Managers, said in a media statement.
“In an environment where stability and yields are increasingly valued, high-quality infra assets continue to stand out as compelling long-term investments,” he added.
Neo is a wealth and asset management firm that serves high-net-worth individuals and institutional investors. It is backed by investors such as Peak XV, MUFG and Euclidean Capital, and recently became a unicorn after receiving investment from the TVS Group.
Its asset management arm focuses on private equity, private credit, infrastructure, and real estate. In total, the firm manages over Rs 25,000 crore in assets.
