ASK Property Fund and ISIR Launch Rs 500 Crore Luxury Housing Fund

ASK Property Fund, in partnership with India Sotheby's International Realty, has successfully raised Rs 500 crore for its latest venture into luxury housing projects. The ASK Curated Luxury Assets Fund-I (ASK CLAF I) is set to make a significant impact on the high-end real estate market in India's major cities.

The fund, which held its initial close on Thursday, has drawn substantial interest from India's affluent investors, including prominent family offices and Ultra-High-Net-Worth Individuals (UHNIs). Within just three months of its launch, the fund has amassed an impressive investment corpus, reflecting the rising demand for luxury residential investments in the Indian market.

As a Category II Alternative Investment Fund registered under SEBI AIF Regulations, the fund aims to support early-stage, high-end residential projects at strategic entry points. In its pursuit of a total Rs 1,500 crore, ASK Property Fund is poised to begin immediate fund deployment, targeting a minimum profit multiple of two times the invested capital.

(With inputs from agencies.)