ASK Property Fund & SIR unveils India's 1st Luxury Real Estate-focused Fund

The launch of a Rs 1,000-crore equity fund for investments in upscale residential projects was announced on Tuesday by ASK Property Fund and India Sotheby's International Realty.

"Strategic collaboration to launch India's first luxury real estate investment platform - ASK Curated Luxury Assets Fund" was the joint statement released by ASK Property Fund and India Sotheby's International Realty.

The real estate private equity division of ASK Asset & Wealth Management Group, which is backed by Blackstone, is called ASK Property Fund.

According to the statement, this fund's objective is to invest in luxury residential projects in India.

The ASK Curated Luxury Assets Fund is registered in accordance with the SEBI (Alternative Investment Funds) Regulations, 2012 (AIF Regulations) as a Category II Alternative Investment Fund with the Securities and Exchange Board of India.

The fund's goal is to provide investors with superior risk-adjusted returns by making investments in vacation homes, upscale residential developments in prestigious cities, and lively, in-demand second-home micromarkets, including places of worship, it stated.

In compliance with SEBI regulations, the fund will raise third-party capital from institutional and individual investors.

Family offices, wealthy individuals, insurance providers, pension funds, banks, financial institutions, sovereign funds, multilateral organizations, and other affluent and institutional investors fall under this category.

"ASK Property Fund comes with an outstanding track record and profound investment insights from managing some of the top-performing real estate funds in the country, we have faith in this strategic collaboration's distinctive value proposition." stated Amit Goyal, Managing Director of India Sotheby's International Realty.