Private Credit Fund in India Targeting Rich Raises $308 Million
- Neo Asset’s credit fund aiming for gross return of 22%-24%
- All investments in the fund are backed by collateral
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Indian money manager Neo Asset Management raised 25.75 billion rupees ($308 million) in its maiden private credit fund, as one of Asia’s fastest growing markets for such lending expands.
The fund called the Neo Special Credit Opportunities Fund aims to lend to companies operating profitably and targets about a 22%-24% rate of return for investors on a gross basis, Neo said in a statement. The fund saw a strong response from high net worth individuals and family offices, it said.