PE-RE Fund Investments
Mantra Group raises Rs.340-Cr from ASK Property Fund
ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, has invested INR 340 crore in a portfolio of three residential projects by Pune-based Mantra Group . One of the projects is located near JVLR, Mumbai, while the other two are in Pune’s Wakad and Mundhwa.Founded in 2007 Mantra Group undertakes premium residential projects across Pune & Pimpri-Chinchwad Municipal Corporation (PCMC). The latest investment is aimed at facilitating Mantra Group's acquisition of two projects through the National Company Law Tribunal (NCLT) route and supporting an additional ongoing residential project. A portion of the funds will be allocated to settling outstanding dues owed to financial creditors, with the balance utilized for the projects’ working capital requirements.
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