Private Equity

PE-RE Fund Investments

ASK Property Fund, Amavi by Clarks launch Rs.500-Cr luxury housing platform

Economic Times   ASK Property Fund  

ASK Curated Luxury Assets Fund-I (ASK CLAF I), an alternative investment fund managed by ASK Property Fund , has launched an INR 500 crore (USD 60 million) equity platform in partnership with Amavi by Clarks. The fund plans to eventually raise a total of INR 1,500 crore (USD 180 million), including a green shoe option of INR 500 crore, and will initially focus on projects around the Mumbai Metropolitan Region (MMR), Pune, and the National Capital Region (NCR).ASK Property Fund is the alternative asset investment arm of the ASK Group, focusing on private equity investments within the self-liquidating residential real estate sector. Amavi by Clarks is a new branded residences venture backed by the promoters of the Clarks Group of Hotels and Brij Hotels. India Sotheby’s International Realty acts as a co-sponsor and real estate advisor to the fund.This venture is set to invest in branded luxury second homes across scenic and spiritual destinations in India, targeting the country's Ultra High Net Worth Individuals (UHNIs).