New Delhi, October 10, 2014 – Real estate fund, owned by ASK Property Investment Advisors, will raise Rs 1,500 crore from both local banks and high net worth individuals to invest in residential properties across six cities in India. The fund will be raised under its fourth fund ASK Real Estate Special Opportunities Fund II.
“Bolstered with the superior returns generated by the previous funds in tough times, we have decided to launch a larger fund considering the opportunities in the markets and investors are willing to invest,” Sunil Rohokale, Managinf Director and Chief executive officer ASK Group said.
ASK Property Investment Advisors manages Rs 2,100 crore in three funds which include two local and one offshore fund. The group has already made two exits in three years between 2.35 to 2.45 times returns on its investments.
ASK group, along with real estate and private equity funds, manages $1b of its clients including the equity portfolio management schemes, wealth management and real estate PMS.
“Investors have appreciated our risk management combined with margin of safety yielding multiple of capital,” said Amit Bhagat, Managing Director and Chief Executive ASK Property Investment Advisors. “Our focused strategy of mid segment residential projects and partnering with regionally strong reputed developers has been appreciated by investors.” The real estate fund has invested in 15 projects in five cities. CCI Newswire
