New Delhi, July 6 -- Neo Alternative Asset Managers Pvt Ltd said Monday it has made the final close of the Neo Real Asset Yield Fund at its target corpus of Rs 1,000 crore (about $105 million).
The Category III alternative investment fund, which was launched less than five months ago, invests across privately and publicly listed real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).
The fund has already deployed over 80% of its committed capital, Neo Asset said in a press release.
"This fund was created to give our clients a dedicated way to allocate to real assets-InvITs and REITs-within their broader portfolios. The strong response reflects growing demand to diversify beyond traditional fixed income and equity allocations," said Shajikumar Devakar, co-founder of Neo Group.
"This strategy was designed to provide institutional-grade access to high-quality privately listed InvITs, typically reserved for large institutions, alongside the best public REIT and InvIT opportunities - combining premium access with liquidity," Devakar said.
Hemant Daga, co-founder and CEO of Neo Asset, said the fund is part of the group's ambition to build a private markets platform across real assets, private credit, and private equity. "This closure gives us a strong foundation for what comes next," he said.
Neo Alternative Asset, formerly Neo Asset Management Pvt Ltd, is the group's alternatives investment platform. It manages about Rs 25,500 crore in assets across private credit, real assets and private equity as of June 30, 2026.
Published by HT Digital Content Services with permission from VC Circle.