ASK Property Investment Advisors launches Rs 1,500 crore fund
The fund, ASK Real Estate Special Opportunities Fund II, will invest in residential projects in six major cities, namely Mumbai, Pune, Chennai, Bangalore, Delhi national capital region, and Hyderabad.
With the fund launch, the group is set to achieve a corpus of Rs 4,000 crore under real estate assets, ASK said in a statement.
Sunil Rohokale, managing director and CEO of ASK Group, said: "Our previous real estate funds have generated superior returns during tough times. This has encouraged us to launch a larger fund considering the opportunities in the markets and investors are willing to invest with a group that has a focused investment strategy with impeccable track record. We intend to raise this through domestic institutions and high net-worth individuals."
Earlier, ASK Group had raised two domestic funds and an offshore fund. ASK Real Estate Funds has already announced its first exit with a multiple of 2.45 in just two years and the second with a multiple of 2.35 in Pune in three years.
Source :- Business Standard
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