ASK Property Fund and India Sotheby’s International Realty Launch Luxury Real Estate Fund
ASK Property Fund and India Sotheby’s International Realty (ISIR) have joined hands to launch the ASK Curated Luxury Assets Fund, India’s first luxury real estate investment platform. This strategic collaboration aims to capitalize on the growing demand f
Real EstateLuxury AssetsAsk Property FundIndia Sothebys International RealtyInvestment FundReal Estate NewsJan 07, 2025
This fund is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI (Alternative Investment Funds) Regulations, 2012.
The ASK Curated Luxury Assets Fund is dedicated to high-end and luxury real estate developments in Tier 1 cities and premium holiday home destinations.
According to the joint statement, the fund aims to generate superior risk-adjusted returns for investors by investing in high-end residential projects, holiday homes, and vibrant, sought-after second-home micro-markets, including religious destinations.
The fund will raise third-party capital from sophisticated institutional and individual investors, as per SEBI guidelines.
This includes family offices, high-net-worth individuals, insurance companies, pension funds, banks, financial institutions, sovereign funds, multilateral institutions, and other sophisticated and institutional investors.
ASK Property Fund and ISIR will commit equal capital to the fund as co-sponsors, with an initial size of ₹1,000 crore equity and an additional greenshoe option of ₹500 crore.
Amit Bhagat, CEO & Managing Director at ASK Property Fund, expressed confidence in India’s robust economic fundamentals and increasing wealth, driving growth in the luxury residential real estate market.
He stated, 'We are excited to collaborate with India SIR, leveraging its strong brand presence and deep expertise in the luxury real estate segment, to launch India’s first luxury residential opportunity-focused fund.
This strategic collaboration creates a win-win for all stakeholders, including landowners and buyers.'
ASK Property Fund, registered as ASK Property Investment Advisors Pvt.
Ltd, is the alternate asset investment arm of the ASK Asset & Wealth Management Group.
The company focuses on private equity investments in self-liquidating residential and commercial segments.
Since 2009, ASK Property Fund has raised ₹7,200 crore, with investors including family offices, ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), and institutions.
On the other side, Amit Goyal, managing director of India SIR, highlighted ASK Property Fund’s outstanding track record and profound investment insights from managing some of the country's top-performing real estate funds.
He added, 'We are confident about the unique value proposition of this strategic collaboration.
We offer exceptional and complementary expertise to this pioneering investment platform.'
Sotheby’s International Realty is present in 83 countries and territories, with 1,100 offices and 26,400 sales associates.
In 2023, the company achieved a transaction volume of USD 143 billion.
In India, the company boasts a residential portfolio of luxury properties, including farmhouses, villas, bungalows, holiday homes, penthouses, and apartments.
Frequently Asked Questions
What is the ASK Curated Luxury Assets Fund?
The ASK Curated Luxury Assets Fund is a new luxury real estate investment platform launched by ASK Property Fund and India Sotheby’s International Realty. It is registered with SEBI as a Category II Alternative Investment Fund.
What is the target market for this fund?
The fund targets high-end and luxury real estate developments in Tier 1 cities and premium holiday home destinations, aiming to generate superior risk-adjusted returns for investors.
Who can invest in the ASK Curated Luxury Assets Fund?
The fund will raise third-party capital from sophisticated institutional and individual investors, including family offices, high-net-worth individuals, insurance companies, pension funds, banks, financial institutions, sovereign funds, multilateral institutions, and other sophisticated investors.
What is the initial size of the fund?
The initial size of the ASK Curated Luxury Assets Fund is ₹1,000 crore equity, with an additional greenshoe option of ₹500 crore.
What is the role of ASK Property Fund and India Sotheby’s International Realty in this collaboration?
Both ASK Property Fund and India Sotheby’s International Realty will commit equal capital to the fund as co-sponsors. ASK Property Fund brings its expertise in real estate private equity, while India Sotheby’s International Realty contributes its deep expertise in the luxury real estate segment.
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