May 8, 2023: ASK Property Fund, the real estate private equity arm of the ASK Group, today announced the closure of its latest fund, Real Estate Special Opportunities Fund IV (RESOF IV), with a corpus of Rs 1,500 crore, including co-investments from investors. This is the sixth real estate fund by the fund. The private equity firm is looking to deploy the money in established mid-and-affordable-residential development in Mumbai, Pune, NCR, Bangalore and Chennai.
“We are excited to continue partnering with customer focused developers who are committed to timely delivery of quality residential sustainable dwellings. Customer-centric approach automatically ensures superior risk adjusted returns,” says ASK Property Fund CMD Amit Bhagat.
“More than 60% of our investors are repeat investors from our previous funds i.e. domestic investors, offshore investors and family offices and the average ticket size is approximately Rs 10 crore,” he added.
Based on the current pipeline, the company intends to deploy the entire RESOF-IV Fund in the current financial year. ASK PIA has raised around Rs 6,100 crore since 2009 and investors include family offices, ultra high net worth individuals (UHNI), high net worth individuals (HNI) and institutions.
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