Report: India’s Neo Asset Seeks Nearly $700M for Second Private Credit Fund

Indian private credit firm Neo Asset started marketing its second private credit fund to potential investors, with an objective of raising as much as INR 60B (~$698.6M) for the investment vehicle, Bloomberg News reported January 9, citing people familiar with the matter.

The unnamed sources said the money manager started pitching the fund to investors a few weeks ago. The fundraising is planned to be completed over the next 18 months, they added. Neo Asset raised INR 25.75B (~$299.8M) for its first private credit fund, which closed in June 2024.

Neo Asset, the alternative asset management arm of the Neo Group, provides credit and fixed-income solutions for private credit, core credit and real assets in India. It earmarked its second private credit fund for mid-sized companies in special situations, according to the report.