Neo Asset Management on Tuesday announced that it has closed its flagship Neo Infrastructure Income Opportunities Fund (NIIOF) with commitments totalling $268 million (Rs 2,300 crore), surpassing its original target of Rs 2,000 crore by 15%.
The SEBI-registered category-II alternative investment fund (AIF) invests in operational solar power generation plants and NHAI road projects.
The fund has already invested/committed Rs 1,200 crore of investments across a variety of diversified road and solar portfolios and is evaluating highway/expressway projects of the National Highways Authority of India (NHAI) having equity value of more than Rs 2,000 crore, Neo Asset Management said in a statement.
In conjunction with the final close, NIIOF has also closed acquisition of its first road asset—a 27.5 km toll road on NH05 (Chandigarh–Shimla highway), which is expected to generate healthy cashflows for the fund and its investors, per the statement.
“India’s emergence as the fourth–largest global economy is a defining moment. At Neo, we are committed to shaping this growth story by channelling long–term capital into the real economy. The successful close of NIIOF marks a key milestone. Infrastructure remains a core pillar of India’s growth, and with NIIOF, we’ve created a platform for domestic investors to access high–quality, operating assets—previously limited to global players,” said Hemant Daga, CEO & co-founder, Neo Asset Management.
With over Rs 13,500 crore in assets under management, Neo Asset Management caters to HNIs, UHNIs, and multi-family offices. It also serves global institutions like pension funds, insurance companies, endowments, and sovereign wealth funds investing in India’s long-term growth.
Neo is backed by marquee global investors like Peak XV Partners; MUFG, Japan’s premier bank; and New York-based Euclidean Capital LLC.
