The Securities and Exchange Board of India-registered Category-II alternative investment fund focuses on acquiring secondary stakes in unlisted Indian companies. It focuses on companies that are profitable at before interest, taxes, depreciation and amortisation and offer an exit pathway within two to four years. Neo Asset Management is the asset management arm of Neo Group, which manages more than Rs 13,500 crore across private equity, credit and infrastructure. It counts Peak XV Partners, MUFG and Euclidean Capital among its backers.