Realty fund raised by 520Cr: ASK property

Domestic real estate fund has been raised by the ASK Property Investment Advisor for Rs. 520crore. This the first realty sector fund among half a dozen such private-equity funds waiting in line, to raise money from rich investors in 2011. Till the December 2011 ASK has planed to raise fund by 1000cr in green process of 500cr. According to the senior official of the company said that “the fund will concentrate particularly on mid-segment residential development and execution.”
As per the fresh reports said in the first phase ASK has raised the fund in 2009 by 340cr even after the Global slowdown. In the second phase approx 250 investors have participated in the Jan2011 with size of Rs.2cr.

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