ASK Property Investment Advisors raises
Rs. 520 crore for domestic realty fund
ASK Property Investment Advisors has raised Rs 520 crore for a domestic realty fund, becoming the first fund among half-a-dozen such realty PE funds waiting in line, to raise money from rich investors in 2011. The company had originally aimed to raise Rs 1,000 crore, including a green shoe option of Rs 500 crore that is open till December.
Mr. Amit Bhagat, CEO, also MD, ASK Property Investment Advisors said "The fund will focus on mid segment residential development and execution. The fund continues to look for compounding opportunities and does not prefer only an opportunistic play. Around 250 investors have participated in the second fund that was launched in January this year, with average size of Rs 2 crore per investor against the minimum subscription amount of Rs 25 lakh"
Since the 2008 global financial crisis, three funds-ASK, Indiareit and the Aditya Birla group backed private equity firm-have raised development funds for the real estate sector, aggregating around Rs 2,500 crore. Leading PE players such as ICICI Ventures, Milestone, Kotak and JM Financial are in the midst of raising fund for their realty sector.
About ASK Property Investment Advisors..!
ASK had raised Rs 340 crore in 2009 after the global financial crisis, which was committed in six mid-size real estate projects.
Rs. 520 crore for domestic realty fund
ASK Property Investment Advisors has raised Rs 520 crore for a domestic realty fund, becoming the first fund among half-a-dozen such realty PE funds waiting in line, to raise money from rich investors in 2011. The company had originally aimed to raise Rs 1,000 crore, including a green shoe option of Rs 500 crore that is open till December.
Mr. Amit Bhagat, CEO, also MD, ASK Property Investment Advisors said "The fund will focus on mid segment residential development and execution. The fund continues to look for compounding opportunities and does not prefer only an opportunistic play. Around 250 investors have participated in the second fund that was launched in January this year, with average size of Rs 2 crore per investor against the minimum subscription amount of Rs 25 lakh"
Since the 2008 global financial crisis, three funds-ASK, Indiareit and the Aditya Birla group backed private equity firm-have raised development funds for the real estate sector, aggregating around Rs 2,500 crore. Leading PE players such as ICICI Ventures, Milestone, Kotak and JM Financial are in the midst of raising fund for their realty sector.
About ASK Property Investment Advisors..!
ASK had raised Rs 340 crore in 2009 after the global financial crisis, which was committed in six mid-size real estate projects.
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