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ASK Group’s AIF arm launches Rs.3,500-Cr housing-focused debt fund
Business Standard ASK Property Fund
Mumbai-based ASK Property Fund , the alternative investment arm of the Blackstone-backed ASK Asset & Wealth Management Group, has launched its fourth debt fund, ASK Real Estate Special Situations Fund IV. The firm plans to raise INR 3,500 crore for the fund, targeting INR 1,500 crore from GIFT City and INR 2000 crore from domestic investors.The new fund will provide “solution capital” such as lender replacement and project-completion financing, as well as growth capital for acquiring stalled projects or those with established approvals. The investment strategy targets mid-segment housing projects across six cities: the Mumbai Metropolitan Region, the National Capital Region, Pune, Bengaluru, Chennai, and Hyderabad, with a goal of achieving 20% investment-level returns.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.