Neo Alternative Asset Managers, previously known as Neo Asset Management, has officially expanded its operations into the real estate sector. The firm has recruited former Walton Street India (WSI) senior executives Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla to spearhead its new real estate investment platform. This strategic hiring underscores Neo’s commitment to establishing a robust presence in an industry that is emerging as one of India's most attractive investment landscapes.
With over 17 years of collaboration, the trio brings extensive experience in real estate investing, asset management, and structured financing, collectively amassing more than two decades in the field. During their tenure at WSI, they successfully managed and provided advisory services for over $650 million across more than 100 projects, achieving notable returns on investments. Neo Alternative Asset Managers aims to replicate this impressive track record as it embarks on its real estate initiatives.
The timing of this expansion is particularly notable, as the Indian real estate market is currently valued at over $500 billion and is poised for significant growth. Factors contributing to this expansion include rapid urbanization, extensive infrastructure development, and increasing demand across both residential and industrial sectors. At Neo, the newly formed team will focus on structured and opportunistic investments in various asset classes, including residential, industrial and logistics, commercial, and special situations, with an emphasis on key urban markets throughout India.
Kaushik Desai, now Managing Director at Neo Alternative Asset Managers, emphasized the firm’s goal of creating a premier investment management platform that integrates disciplined investment strategies with robust structuring capabilities and effective asset management. Hemant Daga, Co-Founder and CEO of Neo Group, highlighted that this move is pivotal to the firm's strategy to develop a leading alternative asset management franchise. The addition of experienced professionals to the Neo team aligns with the firm’s focus on disciplined execution and sustainable value creation. Neo Group serves a diverse clientele, including high-net-worth individuals, ultra-HNIs, multi-family offices, and global institutional investors, supported by notable backers such as Peak XV Partners and Japan's MUFG. This latest initiative marks an important step in the firm’s evolution, as it enhances its alternatives platform while solidifying its footprint in India’s burgeoning private markets ecosystem.