May 15, 2024: ASK Property Fund, the private equity division of ASK Asset and Wealth Management Group, has concluded its investment in Naiknavare Developers’ Avon Vista project, realising a sum of Rs 156 crore. The initial investment made in 2018 amounted to Rs 80 crore. This exit strategy has yielded a targeted Internal Rate of Return (IRR) of 21% and a capital investment multiple of 2x. Situated in Balewadi, Pune, the Avon Vista project consists of 613 units. The successful absorption and timely completion of the project have facilitated a profitable exit for the company.
Established as the alternate asset investment wing of ASK Asset and Wealth Management Group, ASK Property Fund specialises in managing and advising real estate-focused funds. Its primary focus lies in private equity investments within the mid-income and affordable residential, as well as commercial, segments, with an emphasis on self-liquidating projects. Since its inception in 2009, ASK Property Fund has raised approximately Rs 6,100 crore. Its investor base includes family offices, ultra-high net worth individuals (UHNIs), high net worth individuals (HNIs), and institutional investors.
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