About Company
Neo Asset Management
Neo Asset Management is an arm of Neo Group that provides credit and fixed income solutions to client needs across various asset classes in India. They provide capital solutions to stabilize companies and help them grow while producing attractive returns for investors. Neo Asset Management caters to pension funds, insurance companies, large family offices, HNIs, and UHNIs. To have a constructive impact on the Indian economy by providing a flow of essential long-term credit solutions to companies and businesses that contribute to the sustainable growth of the economy and society. To provide superior risk-adjusted inflation-beating long-term returns to our investors through efficient and responsible capital management with a focus on capital preservation.
Neo Special Credit Opportunities Fund II
Fund Snapshot
|
Fund Size |
$720Mn |
|
Funds raised |
$330Mn (First close achieved in 3 months) |
|
Tenure |
6.5 years |
|
Target returns |
21-21.5% |
|
Revenue |
$40–250 Mn |
|
EBITDA |
$10–30 Mn |
|
Entry LTV |
<0.5 |
|
Debt / EBITDA |
<4:1 |
|
Traditional Industries |
Manufacturing & asset-heavy industries |
|
Sole control position |
Preferred, at top of cap structure |
|
Deals evaluated |
517 |
|
Investments |
24 |
|
Exits |
7 |
|
Gross $ IRR |
21% |
|
Cash collected |
$138Mn |
|
Cash distributed |
$52Mn |
|
Quarterly $ yield pay-outs |
4% |
|
Pipeline |
$228 Mn |
|
Deals in advance stages |
6 deals |
|
Target Size |
$720 Mn |
|
Legal Structure |
India registered - SEBI registered Category II AIF Gift city registered – IFSCA registered Feeder Fund |
|
Target IRR |
21-21.5% ($ Gross); Net $ 15.9-17.8% (Post Fees & Carried interest) |
|
Hurdle |
10% ($) |
Investment strategy
Direct Lending
Provide bespoke credit solutions to:
- Situations with significant discount to intrinsic value; and/or
- Value unlocking / multiplier effect of incremental capital
Bilateral Debt Buyouts
Deep value debt acquisitions and restructurings:
- Balance sheet stress of borrowers or
- Motivated bank sellers
Top-Co lending
- Growth and transaction-focused financing for TopCo /Sponsors.
Emphasis on monitoring and enforcement
Focus on building a strong monitoring and enforcement framework on inception of investment period
Monitor actual usage of funds
Account conduct to be monitored on lending hypothesis and covenants
- Quarterly mark-to-market valuation of portfolio
- Quarterly/monthly risk reviews
- In case of expected default basis regular risk reviews, be quick to act and timely in the implementation of legal options
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Nitin Jain
Nitin brings close to two decades of experience in seeding and scaling up businesses across Wealth & Asset Management; and is credited for building one of India’s leading platforms, managing over USD 40 billion of clients' assets. He started his entrepreneurial journey in October 2021 and founded Neo – a new-age, financial services platform, prioritising trust, transparency, which has a stated objective to Do Good for all its stakeholders and society at large. Under his leadership, Neo has already become India’s fastest-growing wealth and asset management company, advising and managing over USD 7 billion in clients’ assets. The growth also attracted leading institutions like Peak XV, Euclidean Capital and MUFG Bank to enter into a strategic partnership with Neo. Nitin was distinguished as one of the Top 50 digital finance influencers in India by The Digital Fifth in 2024. CEO Insights India recognized him as one of the Top 10 leaders from IIT Kharagpur, his alma mater, from where he obtained a B.Tech. degree. He followed that up with a Post Graduation in Management from the Indian Institute of Management, Calcutta. Nitin is married to Rashmi and they have two sons, Aditya and Abhiraj.
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The fund focuses on special credit opportunities through direct lending, bilateral debt buyouts, and Top-Co lending, primarily targeting businesses with strong underlying value and restructuring potential.
The strategy mainly targets traditional manufacturing and asset-heavy industries with stable cash flows, scalable operations, and opportunities for value unlocking.
The fund targets a gross dollar IRR of 21–21.5%, with estimated net dollar returns of 15.9–17.8% after fees and carried interest.
The fund follows a strict monitoring framework that includes covenant tracking, quarterly portfolio valuation reviews, account conduct monitoring, and proactive legal enforcement when required.
Neo Special Credit Opportunities Fund II is structured as a SEBI-registered Category II AIF with a tenure of 6.5 years and an additional feeder fund registered under GIFT City’s IFSCA framework.
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