ASK Property Fund and ISIR Raise Rs 500 Crore for Luxury Real Estate Projects
ASK Property Fund and India Sotheby's International Realty (ISIR) have successfully raised Rs 500 crore to invest in luxury residential projects across major Indian cities. The fund aims to secure a total of Rs 1,500 crore by its final close.
Real EstateLuxury HousingAsk Property FundIndia Sothebys International RealtyAlternative Investment FundReal EstateMay 22, 2025
The fund has garnered significant interest from prominent family offices and Ultra-High-Net-Worth Individuals (UHNIs), securing the initial investment corpus of Rs 500 crore within just three months of its launch. The AIF is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI AIF Regulations.
ASK Curated Luxury Assets Fund I plans to immediately start deploying the funds according to its investment strategy. The fund aims to raise a total of Rs 1,500 crore, including a green shoe option of Rs 500 crore, by its final close. The investment strategy of the AIF is to provide funding for early-stage projects at favorable entry points, focusing on high-end residential projects in major cities, as well as horizontal projects such as second homes and holiday homes.
As an equity-focused fund, ASK CLAF I is designed to target the profit margin of the project, aiming to achieve a minimum multiple of 2 times or more of the invested capital. This strategic approach ensures that investors can benefit from the high returns typically associated with luxury real estate projects.
ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, serves as the investment manager and sponsor of the AIF. India Sotheby’s International Realty, a leading real estate advisor, is the co-sponsor and will provide valuable insights and expertise to the fund. The collaboration between ASK Property Fund and ISIR brings together a wealth of experience and a strong track record in the luxury real estate market, positioning the fund for success.
The launch of ASK Curated Luxury Assets Fund I reflects the growing demand for luxury residential projects in India. With a focus on high-end developments, the fund is well-positioned to capitalize on the increasing interest from affluent investors looking for premium real estate opportunities. The fund's strategic approach and the backing of reputable partners ensure that it is well-prepared to meet the needs of both investors and developers in the luxury real estate sector.
In summary, the successful raising of Rs 500 crore by ASK Property Fund and ISIR marks a significant milestone in the Indian real estate market. The ASK Curated Luxury Assets Fund I is poised to make a substantial impact in the luxury residential sector, offering investors a unique opportunity to participate in premium real estate projects across major Indian cities.
Frequently Asked Questions
What is ASK Curated Luxury Assets Fund I (ASK CLAF I)?
ASK Curated Luxury Assets Fund I (ASK CLAF I) is an Alternative Investment Fund (AIF) aimed at investing in luxury residential projects across major cities in India. It has raised Rs 500 crore and aims to raise a total of Rs 1,500 crore.
Who are the sponsors of ASK CLAF I?
ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, is the investment manager and sponsor of the AIF. India Sotheby’s International Realty is the co-sponsor and real estate advisor.
What is the investment strategy of ASK CLAF I?
The fund plans to provide funding for early-stage projects at favorable entry points, focusing on high-end residential projects, second homes, and holiday homes in major cities.
What is the target return for ASK CLAF I?
The fund aims to achieve a minimum multiple of 2 times or more of the invested capital, targeting the profit margin of the project.
What is the significance of the fund's initial close?
The initial close of ASK CLAF I, raising Rs 500 crore within three months, reflects the strong interest from prominent family offices and Ultra-High-Net-Worth Individuals (UHNIs) in luxury real estate investments.
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