Key Takeaways
- • Neo Alternative Asset Managers (NAAM), the alternative asset management arm of Neo Wealth and Asset Management, raised Rs 6,200 crore ($654 million) for its second Special Credit Opportunities strategy, exceeding its initial target of Rs 5,000 crore.
- • The fund, NSCOF-II, a SEBI-registered Category II AIF, has completed its final close with commitments from family offices and institutional investors.
- • NSCOF-II will provide acquisition financing, refinancing, growth capital and special situations financing to established Indian businesses, targeting roughly 35-40 investments of Rs 150-500 crore each.
- • The predecessor NSCOF-I closed in June 2024 with Rs 2,575 crore in commitments, has deployed more than 150% of its corpus across 35 investments and has exited 17 of them.
Summary
Neo Alternative Asset Managers (NAAM), the alternative asset management business of Neo Wealth and Asset Management, has raised Rs 6,200 crore ($654 million) for its second Special Credit Opportunities strategy, according to a media statement from the company. The final close surpassed the fund's initial target of Rs 5,000 crore. The vehicle has drawn commitments from family offices and institutional investors.
The fund, Neo Special Credit Opportunities Fund-II (NSCOF-II), is a SEBI-registered Category II Alternative Investment Fund. It provides financing to established Indian businesses, focusing on acquisition financing, refinancing, growth capital and special situations where traditional lenders are unable to meet a company's funding needs.
Puneet Jain, co-founder and CIO of NAAM, said the priority is to deploy capital judiciously and build a well-diversified portfolio of approximately 35-40 investments, with individual deal sizes generally ranging from Rs 150-500 crore.
NSCOF-II follows NSCOF-I, which closed in June 2024 with commitments of Rs 2,575 crore. Since launch, the first fund has deployed more than 150% of its corpus across 35 investments and exited 17 of them, a track record that underpins the larger second raise.
Neo Wealth and Asset Management, founded in 2021, serves high-net-worth individuals, institutions and corporates. It manages and advises on client assets worth around Rs 1.4 lakh crore across 17 cities in India and two overseas locations. The company is backed by Peak XV Partners, TVS Capital, Japan's MUFG and New York-based Euclidean Capital.
The fund, Neo Special Credit Opportunities Fund-II (NSCOF-II), is a SEBI-registered Category II Alternative Investment Fund. It provides financing to established Indian businesses, focusing on acquisition financing, refinancing, growth capital and special situations where traditional lenders are unable to meet a company's funding needs.
Puneet Jain, co-founder and CIO of NAAM, said the priority is to deploy capital judiciously and build a well-diversified portfolio of approximately 35-40 investments, with individual deal sizes generally ranging from Rs 150-500 crore.
NSCOF-II follows NSCOF-I, which closed in June 2024 with commitments of Rs 2,575 crore. Since launch, the first fund has deployed more than 150% of its corpus across 35 investments and exited 17 of them, a track record that underpins the larger second raise.
Neo Wealth and Asset Management, founded in 2021, serves high-net-worth individuals, institutions and corporates. It manages and advises on client assets worth around Rs 1.4 lakh crore across 17 cities in India and two overseas locations. The company is backed by Peak XV Partners, TVS Capital, Japan's MUFG and New York-based Euclidean Capital.
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