Infrastructure company Neo Asset plans to expand its portfolio by acquiring five new roads
Neo Asset Management Expands Investment Portfolio with New Acquisitions
Neo Asset Management, a Mumbai-based investment firm under the Neo Group, has made significant strides in its growth journey. The company recently completed the fundraising for its maiden infrastructure fund, surpassing its target, and is now planning to add road assets to its portfolio [2].
However, specific details or names of these newly acquired road assets have not been disclosed in the available search results. This marks a notable expansion for the infrastructure fund, which has been focused on road assets since its inception.
In a move towards diversification, Neo Asset Management has also made an investment in Nobel Hygiene, a diaper manufacturer, to the tune of $20 million [6]. This is the first known investment outside of Neo Asset Management's infrastructure and secondaries funds, signifying the firm's interest in broadening its investment portfolio.
The secondaries fund, another venture for Neo Asset Management, marked its first close, but the details of this event were not disclosed [3][5]. This fund focuses on acquiring secondary stakes in profitable Indian unlisted companies, marking Neo Asset Management's foray into private equity.
The infrastructure fund and the secondaries fund are separate entities within Neo Asset Management, each with their unique investment strategies. While the infrastructure fund focuses on road assets, the investment strategy of the secondaries fund is not specified.
Meanwhile, in other news, Quadria and Sixth Sense-backed Friends and Snuggy, a diaper manufacturer, has taken a down round [4]. The details of this down round were not specified in the article. Similarly, the exact nature of Apax's stake reduction in Fractal was not detailed in the article [1].
Gaja Capital, along with unspecified other investors, has made a bet on Fractal at a valuation of $2.44 billion [1]. This investment in Fractal is not related to Neo Asset Management's investment portfolio.
In summary, Neo Asset Management is expanding its operations by foraying into private equity with a secondaries fund and adding multiple road assets to its infrastructure fund's portfolio. The investment in Nobel Hygiene signifies a step towards diversifying their investment portfolio beyond infrastructure and secondary funds.
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