The ₹5,000 crore fund will primarily invest in de-risked infrastructure assets, including roads under the Hybrid Annuity Model (HAM) and renewable energy platforms, with a portion allocated to privately listed Infrastructure Investment Trusts (InvITs). The strategy is aimed at offering investors stable yields and capital preservation, positioning itself as an alternative to traditional fixed income products.
NAAM has previously demonstrated execution capabilities through its first infrastructure fund, which includes exposure to HAM road assets backed by National Highways Authority of India (NHAI) contracts and a utility-scale solar portfolio. The second fund will follow a similar investment discipline, focusing on income visibility and portfolio diversification.
Investor appetite for infrastructure income strategies remains robust, supported by a strong pipeline of opportunities across roads, renewable energy platforms, and InvIT issuances. The segment continues to attract capital from institutional and high-net-worth investors seeking predictable, long-duration cash flows.
Hemant Daga, Co-Founder – Neo Group & CEO – Neo Alternative Asset Managers, said, “The strong response to the first close of Neo Infra Income Opportunities Fund II reflects growing investor confidence in infrastructure income as a resilient asset class. In an environment where stability and yields are increasingly valued, high-quality infra assets continue to stand out as compelling long-term investments.”
“At NAAM, our focus remains on disciplined capital allocation and execution excellence. Our experience across roads and renewable assets, combined with a strong pipeline of opportunities, positions us well to scale this strategy while maintaining consistency in performance and risk management,” he said.
Abishek Goel, Managing Director & Head – Infrastructure & Real Assets Fund, Neo Alternative Asset Managers, said, “We are seeing increasing investor appetite for well-structured infrastructure income opportunities, particularly those backed by strong cash flow visibility and government-linked contracts. Our approach combines deep sector expertise with rigorous asset selection and active asset management, enabling us to build a portfolio that balances yield, quality, and longevity.”NAAM’s infrastructure platform forms a key part of its broader alternatives business spanning private equity, private credit, real estate, and infrastructure. With over ₹25,000 crore in assets under management and a dedicated infrastructure team of more than 50 professionals, the firm is looking to scale its presence in India’s growing infrastructure investment landscape.
Neo Group’s investor base includes global institutions such as pension funds, insurance companies, and sovereign wealth funds, alongside domestic HNIs and family offices. The platform is backed by investors including Peak XV Partners, Mitsubishi UFJ Financial Group (MUFG), and Euclidean Capital, and recently secured a strategic investment from the TVS Group, marking its emergence as a unicorn.