360ONE Real Asset Development
Our view on the fund, the AMC, the strategy, the performance & the investment team.
IME's Review of 360ONE Real Asset Development
| Fund Rating | Strategy Rating | Performance Rating |
|---|---|---|
Upgrade | Upgrade | Upgrade |
View on the Fund
The fund is an attractive option for investors seeking stable yield generation alongside capital appreciation in the real assets space (an interesting mix of commercial real estate, warehouses, REITs and infra assets). This is supported by 360 ONE’s strong alternatives pedigree and execution capabilities, as well as its partnerships with leading global and domestic sponsors, which enhance deal sourcing, access, and underwriting quality
Strategy
Yield bearing Infra & CRE
Fund's Strategy View
360 ONE Real Assets Development is a Category II AIF focused on generating stable real yields alongside capital appreciation through investments in core-plus real assets. The fund allocates approximately 50–55% to commercial real estate - including office platforms, REITs, and pre-IPO REIT opportunities and 40–45% to infrastructure assets such as roads and InvIT platforms, with up to 10% reserved for opportunistic real asset investments. The strategy emphasises partnerships with leading global and domestic institutional sponsors, including Blackstone, Brookfield, and KKR, providing access to scaled, high-quality platforms characterised by strong governance, long-term leases, and predictable cash flows
Fund Performance
Most asset-yielding debt funds are close-ended. Funds that are open for subscription are new funds without a past performance track record - investors need to be careful about considering performance of previous fund series to new funds (since the underlying investment environment may have changed considerably).
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| 360ONE Real Asset Development |
Performance as of: 31-Jan-26 | Inception Date: 01-Jan-26 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Sameer Nath | 3-star rated FM
CIO & Head - Alternatives | 30 yrs Experience | 3 yrs at current firm
Past Experience: TrueScale Capital (Founder), Iron Pillar (Co-Founder), CitiGroup (Investment Banker)
Sameer Nath is the CIO – Private Equity at 360 ONE Alternates Asset Management, with over 25 years of experience across private equity, M&A, capital markets, and entrepreneurship. He previously worked as an investment banker at Citigroup and later co-founded Iron Pillar (2016) and TrueScale Capital (2020). He holds an MBA from the University of Chicago Booth School of Business.
Anup Maheshwari | 5-star rated FM
CIO Equity | 27 yrs Experience | 8 yrs at current firm
Past Experience: DSP Blackrock (Executive VP)
Anup Maheshwari is Co-Founder & CIO of 360 ONE Asset. Anup is responsible for the investment and strategy for 360 ONE Asset’s business including mutual funds and Alternative Investment Funds (AIFs). He has over 25 years of work experience in the financial services sector. Prior to joining 360 ONE Asset, he has been associated with DSP Investment Managers for over 21 years as an Executive Vice President & Chief Investment Officer. He was also associated with HSBC Asset Management & Merrill Lynch.
Niraj Muraka | 3-star rated FM
CIO - Real Assets | 27 yrs Experience | 1 yrs at current firm
Past Experience: HCL Tech, IOCL
Niraj Murarka is the CIO – Real Assets at 360 ONE Alternates Asset Management. He brings over 25 years of experience across structured finance, corporate and project finance, treasury, M&A, and credit risk underwriting and management. Prior to this role, he served as CIO – Treasury at 360 ONE before transitioning to lead the real assets platform within 360 ONE Alternates. Earlier in his career, he was associated with HCL Technologies and Indian Oil Corporation. Niraj is a Chartered Accountant (rank holder), Company Secretary, and holds an MBA in Finance from FMS, Delhi.
IME's Review of 360One Alternatives
| AMC Rating | Pedigree Rating | Team Rating | Philosophy Rating |
|---|---|---|---|
Upgrade | Upgrade | Upgrade | Upgrade |
View on AMC
360ONE Alternatives has scaled to become one of the largest alternative managers in India, with a diverse set of strategies across alternative categories - including Private Equity, Private Credit, Real Estate, Infrastructure & Multi-asset funds. Their focus on differentiated strategies and deep network via wealth management bodes well.
AMC's Pedigree
While 360ONE is a wealth management firm, their AMC has scaled and established its pedigree & credentials in the asset management space. The AMC has achieved this via strong talent (and ESOP retention), differentiated strategies and good performance. Their ESOP structures incentivize these professionals to stay long-term, mitigating concerns of manager churn typically seen in non-founder-driven AMC houses.
AMC Team
360 ONE Alternates is led by Anup Maheshwari and Sameer Nath. Anup Maheshwari oversees the listed equity part, while Sameer Nath heads the alternatives business, with responsibility across private equity and venture capital strategies.
Investment Philosophy
360 ONE Alternates investment philosophy is largely strategy-specific rather than uniform at the AMC level, reflecting the diverse nature of alternative assets. Each scheme is driven by a tailored framework, with outcomes heavily dependent on the investment team’s ability to source, evaluate, and execute opportunities across private markets and other alternative space. In contrast, for listed equity exposures, the amc follows a well-established SCDV framework.
AMC Background
360 ONE Alternates Asset Management Limited is part of the broader 360 ONE Group (formerly IIFL Wealth), one of India’s largest and most established wealth and alternatives platforms. The alternatives business has been built over multiple years and spans private equity, venture capital, pre-IPO, secondaries, fund-of-funds, and co-investment strategies, positioning 360 ONE as a full-spectrum private markets investor rather than a single-strategy house. As of recent disclosures, the private markets platform manages a multi-stage AUM running into tens of thousands of crores, with a demonstrated track record across cycles and asset classes. The team benefits from deep institutional roots, an integrated sourcing ecosystem that includes the 360 ONE wealth network and Mumbai Angels, and long-standing relationships with founders, GPs, and co-investors. The investment management function is led by a seasoned CIO bench with decades of experience across private equity, venture capital, M&A, and capital markets, supported by dedicated sector specialists and a formal investment committee structure, enabling institutional-grade underwriting, governance oversight, and exit execution.
Investment Philosophy
360 ONE Alternates follows a platform-led, fundamentally driven private markets investment philosophy focused on identifying long-term structural growth opportunities across the venture, growth equity, pre-IPO, and secondary landscape in India. The approach emphasises disciplined underwriting, alignment with strong founder and management teams, and active value creation through governance, capital structuring, and strategic support. The platform places strong emphasis on downside protection, exit visibility, and alignment of interests, leveraging its broad ecosystem to support companies from inception through IPO or strategic exit.
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