Neo Asset closes ₹1,000 crore real asset yield fund in under five months
What's the deal? Neo Asset has completed fundraising for its Real Asset Yield Fund, hitting a ₹1,000 crore target corpus in less than five months. The open-ended Category III Alternative Investment Fund (AIF) invests across privately and publicly listed real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).
How was it raised? The firm mobilised capital through the Neo Wealth ecosystem and its banker network. It said more than 80% of the committed capital has already been deployed.
What's the endgame? Hemant Daga, co-founder and CEO of Neo Asset, said the fund is part of a broader ambition to build "India's leading private markets platform across real assets, private credit and private equity." Neo Asset manages roughly ₹25,500 crore in assets across those strategies as of June 30, 2026.
Why now? Shajikumar DevakarDealroom has a profile for this one. Try Dealroom →, co-founder of Neo Group, said the fund answers "growing demand to diversify beyond traditional fixed income and equity allocations." It targets institutional-grade access to privately listed InvITs typically reserved for large institutions, alongside public REIT and InvIT opportunities.
What could go wrong? Neo Asset says it was the first platform to raise and deploy capital through this structure. Other fund managers have since launched similar strategies, several still in fundraising or early deployment, raising competition for yield-generating real assets.
The signal: The rapid close extends a strong run for Neo across alternative strategies, including a ₹2,300 crore infrastructure income fund and a ₹1,500 crore first close on its successor infra fund. It points to robust investor appetite for income-generating real assets in India and Neo's push to become a multi-strategy alternatives platform.
Read more: CNBC TV18
Image credit: Stenly Lam
