Fund News
Neo Asset raises Rs.2,575-Cr for Special Credit Opportunities Fund
Mumbai-based Neo Asset Management has closed its first Special Credit Opportunities Fund, raising INR 2,575 crore from high-net-worth individuals (HNIs) and family offices. The fund invests in non-triple-A-rated companies that post operating profits, targeting a gross internal rate of return (IRR) of 22-24% for its investors.During the 15-month fundraising period, the fund has made 12 investments and achieved two exits generating an IRR of over 23%. It is looking to make another 8-10 investments from this fund over the year.
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