Private Equity

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ASK Property Investment Advisors to raise Rs.1,000-Cr realty fund

Economic Times  

ASK Property Investment Advisors, the real estate private equity arm of the ASK Group, is looking to raise INR 1,000 crore through its new real estate-focussed fund ASK Real Estate Special Opportunities Fund-IV. The fund also has an additional green shoe option of INR 1,500 crore. ASK PIA is looking to raise the fund through a combination of offshore and domestic investors. The fund is expected to provide early, mid, and last mile funding for fully approved projects by customer-centric developers with an established delivery track-record. ASK PIA expects to announce the initial close of the fund at INR 750 crore by September. The fund is in line with ASK's focus on the affordable & mid segment residential and mix land use projects. It will focus on job growth corridors across Mumbai Metropolitan Region (MMR), Delhi-National Capital Region (NCR), Bangalore, Chennai, Pune, and Hyderabad The firm currently has a pipeline of over INR 500 crore of investments pre-identified for deployment. It has deployed over INR 400 crore during the quarter ending March 2021.