ASK Property Fund, the real estate private equity division of Blackstone-backed ASK Asset & Wealth Management Group, has partnered with India Sotheby’s International Realty to launch the ASK Curated Luxury Assets Fund. This ₹1,000 crore equity fund is India’s first exclusive platform dedicated to luxury residential investments. Registered under SEBI’s Alternative Investment Fund (AIF) guidelines, the fund aims to capitalize on the rapidly growing luxury real estate market in the country.
The fund is designed to generate superior risk-adjusted returns by investing in premium residential properties, holiday homes, and second homes in vibrant micro-markets, including religious destinations. It seeks to attract capital from a diverse range of institutional and individual investors, such as family offices, high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), insurance companies, pension funds, banks, and sovereign wealth funds.
Amit Bhagat, CEO and Managing Director of ASK Property Fund, expressed optimism about the fund’s prospects, highlighting the growing demand in India’s luxury real estate market driven by the country’s economic growth and increasing wealth. He stated that the collaboration with India Sotheby’s International Realty brings together expertise in luxury real estate and a proven track record in real estate investments. Amit Goyal, Managing Director of India Sotheby’s International Realty, echoed similar sentiments, emphasizing the unique value proposition offered by the fund through this strategic partnership.
Both ASK Property Fund and India Sotheby’s International Realty will make equal capital contributions to the fund, reinforcing their commitment to its success. With a proven track record, ASK Property Fund has raised ₹7,200 crore since 2009 and has consistently delivered top-performing real estate investment solutions. This new fund further positions the company to lead in the luxury real estate investment space.