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ASK Property Fund and India Sotheby's International Realty have launched a INR 1,000 crore equity fund aimed at investing in luxury residential projects across India. The fund, called ASK Curated Luxury Assets Fund, is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund. It is designed to offer superior returns by focusing on high-end residential projects, holiday homes, and second-home markets in top cities and popular destinations. The fund will target both institutional and individual investors, including family offices, pension funds, and high net-worth individuals.
ASK Property Fund and India Sotheby's International Realty recently unveiled a INR 1,000 crore equity fund on Tuesday, aimed at investing in luxury residential projects. The initiative, named the ASK Curated Luxury Assets Fund, marks the launch of India's first platform dedicated to luxury real estate investments. The fund is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund, in line with SEBI's 2012 regulations. Advertisement
ASK Property Fund is a prominent player in real estate private equity and is part of the ASK Asset & Wealth Management Group, which is backed by Blackstone. The fund is designed to invest in high-end residential projects across India, targeting top cities, holiday homes, and second-home markets in desirable locations, including religious destinations.
The objective of the fund is to generate superior, risk-adjusted returns for investors by focusing on premium residential projects in some of the country's most vibrant and sought-after areas. The investors will include a diverse group of institutional and individual backers, including family offices, high net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), insurance companies, pension funds, banks, and sovereign wealth funds.
Amit Bhagat, the co-founder, CEO, and Managing Director of ASK Property Fund, expressed confidence in India's strong economic fundamentals and the growing number of wealthy individuals. He highlighted that these factors would drive continued growth in the country's luxury residential market. He also emphasized the value of partnering with India Sotheby's International Realty, whose extensive expertise and strong brand presence in the luxury segment would support the fund's success.
Amit Goyal, Managing Director of India Sotheby's International Realty, noted the excellent track record of ASK Property Fund and its deep investment insights. He mentioned the promising prospects of the partnership and the unique value it brings to the luxury real estate market.
The fund's co-sponsors, ASK Property Fund and India Sotheby's International Realty, have committed to equal capital investments in this venture. Since its inception in 2009, ASK Property Fund has raised approximately INR 7,200 crore, with a mix of investors, including family offices, HNIs, UHNIs, and institutional investors.
The launch of the ASK Curated Luxury Assets Fund presents a promising opportunity in India's growing luxury residential market. With a solid track record and strong institutional backing, the fund is set to tap into the increasing demand for high-end properties in prime locations. By targeting both domestic and international investors, it aims to deliver high returns while focusing on the country's most desirable real estate sectors. This initiative is a strategic collaboration that underscores the evolving landscape of India's luxury real estate investment sector.
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