Neo Asset Management garners Rs 2,575 cr

New Delhi: Neo Asset Management on Tuesday announced the closure of its maiden special credit opportunities fund, mobilising Rs 2,575 crore from High Net Worth Individuals (HNIs) and multi-family officesNeo Special Credit Opportunities Fund -- a Category II AIF (Alternative Investment Fund) -- aimed to provide customised credit solutions to profitable companies. The fund targets to deliver 22-24 per cent gross Internal Rate of Return (IRR) to its investors. In a short period of 15 months, the fund has already made 12 investments and seen 2 successful exits, the asset management firm said in a statement.