Neo Alternative Asset Managers bets on real estate, ropes in ex-Walton Street India trio to lead charge

Neo Alternative Asset Managers — formerly Neo Asset Management — has entered into real estate, bringing aboard Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla, the former senior leadership team at Walton Street India (WSI), to anchor its real estate investment platform.

The three have worked together for over 17 years and collectively bring more than two decades of experience spanning real estate investing, asset management, and structured financing. During their tenure, they managed and advised on over $650 million across 100-plus projects, with a significant share of investments exited at attractive internal rates of return — a track record the firm is now looking to replicate under the Neo umbrella.

The hiring signals Neo’s formal push into real estate at a time the sector is seen as one of India’s most compelling structural plays. The market is currently estimated at over $500 billion and is expected to scale significantly, due to rapid urbanisation, infrastructure buildout, and rising demand across residential and industrial segments.


At Neo, the team will target structured and opportunistic real estate investments across residential, industrial and logistics, commercial, and special situation assets, with a focus on key urban markets across India. The firm says the addition deepens its alternatives platform and broadens its footprint in India’s growing private markets ecosystem.

“Our focus will be on building a best-in-class execution-led investment management platform that combines a disciplined investment approach with strong structuring capabilities, and on-ground asset management to deliver consistent, risk-adjusted returns for investors,” said Kaushik Desai, Managing Director, Neo Alternative Asset Managers.

Hemant Daga, Co-Founder, Neo Group and CEO, Neo Alternative Asset Managers, said the move is central to the firm’s alternatives buildout. “This is a strategic addition to our platform as we continue to build Neo into a leading alternatives asset management franchise. The team brings deep domain expertise, a strong track record, and a differentiated approach to real estate investing, which aligns well with our focus on disciplined execution and long-term value creation,” he said.

Neo Group, which caters to high-net-worth individuals, ultra-HNIs, and multi-family offices, also serves global institutional investors including pension funds, insurance companies, endowments, and sovereign wealth funds. The firm is backed by Peak XV Partners, Japan’s MUFG, and New York-based Euclidean Capital. It recently received a strategic investment from TVS Group, a milestone that pushed the firm into unicorn territory.

Neo Alternative Asset Managers, the alternatives arm of Neo Group, operates across private equity, private credit, infrastructure, and real assets. The team comprises over 55 professionals, including more than 35 investment specialists with an average of two decades of experience.