India, April 8 -- Fintech Neo Group's asset management arm, Neo Asset Management, has marked the first close of its second flagship private credit fund at INR 2,000 Cr.

Launched three months ago, the Neo Special Credit Opportunities Fund-II (NSCOF II) is targeting a total corpus of INR 5,000 Cr from high-net-worth individuals (HNIs) and multiple family offices.

The fund is a SEBI-registered Category II AIF aimed at providing credit solutions to EBITDA-positive companies.

Meanwhile, the company claims that all the investments made under the fund are fully covered with at least 2-3 times hard asset collateral and bear regular coupons.

Neo Asset Management, cofounder and CIO Puneet Jain, said that with NSCOF II, the company aims to creat...