By Accommodation Times News Services
ASK Group’s real estate private equity arm ASK Property Investment Advisors (ASKPIA), launched its fourth Real Estate ASK Real Estate Special Opportunities Fund II for Rs. 1,500 crore. They will invest these funds in the six major city’s residential real estate market like Mumbai, Pune, Delhi-NCR, Chennai, Bangalore and Hyderabad.
Announcing the launch of ASK Real Estate Special Opportunities Fund II, Mr Sunil Rohokale, MD & CEO, ASK Group said, “Our previous real estate funds have generated superior returns during tough times. This has encouraged us to launch a larger fund considering the opportunities in the markets and investors are willing to invest with a group that has a focused investment strategy with impeccable track record. We intend to raise this through domestic institutions and high net-worth individuals. Our ability to repeat deals with existing partners has been a differentiator reflecting our understanding and strong relationships.”
Mr Amit Bhagat, MD & CEO, ASK Property Investment Advisors said, Our focused strategy of mid segment residential projects and partnering with regionally strong reputed developers has been appreciated by investors. Investors have appreciated our risk management combined with margin of safety yielding MOC (Multiple of Capital). We have demonstrated track record of 15 performing investments in five cities.
ASK Group has previously raised two domestic funds and an offshore fund. ASK Group had raised Rs 326 crores in ASK Real Estate Special Opportunities Fund I in 2009 with returns of 2.45 times on its investment. They have till date raised Rs.1000 crore and have already committed investments in four projects.