ASK Group to raise $200 mn offshore RE fund

ASK Group announced the first close of $50 million of their $200 million offshore real estate focused fund. The fund is being managed by ASK Capital Advisors PTE, the Singapore based subsidiary of the ASK Group and will invest in mid-segment residential realty projects in top five cities — Mumbai, Pune, Chennai, Bengaluru and Delhi-NCR.
SK Group manages Real Estate assets of ` 1,800 Cr domestically through its two funds and debt structures. The group had already committed 100 per cent of its first fund worth ` 340 Cr and has committed ` 540 Cr out of the second fund of ` 1,000 Cr. Till date the group has invested ` 700 crore and made an exit of ` 145 Cr. from the first fund. “While fund raising will gain momentum after our first close, we will be actively looking at investing in projects. We will be investing over ` 500 Cr in the next 12 months in Pune, Bengaluru and Chennai.” said Sunil Rohokale, MD and CEO, ASK Group.

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