Neo Alternative Asset Managers Pvt Ltd (NAAM), based in Bengaluru, has announced the first close of its Neo Infra Income Opportunities Fund II, raising ₹1,500 crore towards a target of ₹5,000 crore. This fund focuses on investing 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 aims to provide investors with stable yields and capital preservation, appealing to those seeking alternatives to traditional fixed income products. Hemant Daga, Co-Founder and CEO of NAAM, emphasized the strong investor response, highlighting the resilience of infrastructure income as an asset class. The firm has a proven track record with its first infrastructure fund, which included HAM road assets backed by National Highways Authority of India (NHAI) contracts and a solar portfolio. NAAM's infrastructure platform is part of a broader alternatives business that manages over ₹25,000 crore in assets, supported by a diverse investor base including global institutions and domestic high-net-worth individuals.