ASK Property Investment Advisors launches new special opportunities fund

ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, has launched its new real estate fund, ASK Real Estate Special Opportunities Fund – IV, according to Mint.

The fund is targeting INR 1,000 crore ($131.9 million) along with an additional INR 1,500 crore ($tk million) via a greenshoe option. The investor base is expected to be a mixture of offshore and domestic investors.

“This fund’s strategy is a mirror image of our fully deployed previous fund,” said Amit Bhagat, CEO and managing director of ASK PIA. “We will provide early, mid-, and last-mile funding for fully approved projects by customer-centric developers with an established delivery track-record.”

The fund will focus on affordable and mid-segment residential and mix land-use projects. It will identify projects of reputed developers and provide funding to ensure financial closure.

The fund is expected to hold an initial close at INR 750