Ask Group collected Rs.1400 crore through realty fund

Q: This fund raising is considered as one of the largest domestic fund raising exercises for realty investment.

Kishore Pathak, Mumbai

24th February 2016

Real estate News in Mumbai

ask group

domestic fund raising

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Replies (3)

what you think about realty fund in future.

Amit Jindal, Sonipat

28th February 2016

Comment

I heard that the fund with period of 6-years and 2-extensions of 1-year each will be providing growth capital to developers for acquiring distressed assets. The fund had achieved its initial close in March last year. Am i right friend?

Lekshmi,

24th February 2016

Comment

Hi Lekshmi,
But the report indicates that around 60% of investors in this fund are repeated investors from their earlier funds and have reposed their faith in them due to track record and developer selection. Most of these are family offices and ultra HNI investors.

Vasanth,

24th February 2016

Yes, and with the closure of this fund, ASK Group's real estate private equity assets under management and advisory stand at Rs 3500 crore. The fund is looking to deploy this corpus fully over the next 18-24 months. They have already committed 25% of the corpus through two transactions from this new fund,

Lekshmi,

24th February 2016

At the same time they disclose that ASK Group through its real estate funds has committed Rs 2000 crore in 19 projects. On the offshore front, the ASK Group has also made an initial close of $50 million, or Rs 300 crore, for its $200 million fund.

Kaushik Bardia,

24th February 2016

The comany has named it ASK Real Estate Special Opportunities Fund II. The fund that was launched in October 2014 was aimed to invest in mid-sized self-liquidating residential projects in 6-major cities including Mumbai, Pune, Chennai, Bengaluru, Delhi-NCR and Hyderabad.

Vasanth,

24th February 2016

Comment

As per company, they will focus on distressed valuations with margin of safety for superior risk adjusted returns. They also think that disciplined investing with risk manager focus is a key to investing in equity. They are equity investors and there is no need for them to invest unless there is a compelling opportunity.

Kaushik Bardia,

24th February 2016