Private Equity

PE-RE Fund Investments

Shriram Properties & ASK invest Rs.125-Cr in B'luru project from Rs.500-Cr residential realty plat

Economic Times  

ASK Property Fund has tied up with realty developer Shriram Properties to set up an investment platform for the acquisition of residential real estate projects. Under this arrangement, Shriram Properties and ASK will co-invest in plotted and residential developments projects in Bengaluru, Chennai, and Hyderabad. Aggregate commitments towards the platform will be up to INR 500 crore. The committed capital is expected to be deployed over the next 12 months. ASK will invest through its managed Category II Alternative Investment Fund (AIF). The platform has already committed its first investment of INR 125 crore for a plotted development project in North Bengaluru, which has already partially completed infrastructure development. The project with saleable area of 8 lakh sq ft is proposed to be launched during third quarter of 2022-23.