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HedgeCo.Net \u2014 Neo Alternative Asset Managers has held the final close of Neo Special Credit Opportunities Fund-II at Rs 6,200 crore, about $654 million, above its initial Rs 5,000 crore target, the Indian manager said on November 3. Limited partners include family offices and institutional investors, which were not named.<\/p>\n
The fund provides structured and flexible financing to established Indian companies, including acquisition financing, refinancing, growth capital and special situations where bank lending does not fit. It targets businesses with established operating cash flows and uses collateral-backed security and moderate leverage to limit downside.<\/p>\n
Fund II is more than double its predecessor. The first fund in the strategy closed in June 2024 with Rs 2,575 crore. Neo says the strategy has deployed more than 150% of its fund corpus on a gross basis, completed 35 investments and exited 17.<\/p>\n
Co-founder and CIO Puneet Jain said the firm plans about 35 to 40 investments, with deal sizes generally between Rs 150 crore and Rs 500 crore. Neo Alternative, part of Neo Wealth and Asset Management, manages more than Rs 31,000 crore across four strategies, and its backers include Peak XV Partners, MUFG and Euclidean Capital.<\/p>\n
India’s domestic performing and special situations credit market keeps drawing larger funds as companies seek financing that banks are slow or unwilling to provide. Recycling capital, shown in the deployment above 100% of corpus, is central to returns in this strategy, so exit pace will matter as much as fund size.<\/p>\n","protected":false},"excerpt":{"rendered":"
HedgeCo.Net \u2014 Neo Alternative Asset Managers has held the final close of Neo Special Credit Opportunities Fund-II at Rs 6,200 crore, about $654 million, above its initial Rs 5,000 \u2026 Continue reading