Fund News
Neo Alternative makes first close of Rs.5,000-Cr infra income fund at Rs.1,500-Cr
Mumbai-based Neo Alternative Asset Managers (NAAM), a part of Neo Group, has reached the first close for its Neo Infra Income Opportunities Fund II, raising INR 1,500 crore towards a target corpus of INR 5,000 crore. The fund has onboarded about 30 limited partners.The Neo Infra Income Opportunities Fund II will invest primarily in operational, revenue-generating road and renewable energy assets backed by long-term government contracts and also in privately listed infrastructure investment trusts. The fund will allocate 5-10% to ancillary opportunities like battery energy storage system projects, targeting an internal rate of return of 18-20%.Neo Group, backed by Peak XV Partners, MUFG, TVS Capital and Euclidean Capital, currently oversees over INR 25,000 crore in assets under management. It expects to raise the remaining INR 3,500 crore for the new fund within the next 12 months.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
