ASK Property Fund launches 4th debt fund to raise ₹3,500cr
Business
ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management group, just rolled out its fourth debt fund (ASK Real Estate Special Situations Fund IV) aiming to raise ₹3,500 crore from both Indian and global investors.
The money will go into middle-income housing projects across India's six key cities/regions: MMR, NCR, Pune, Bengaluru, Chennai and Hyderabad.
ASK fund targets 20% investor returns
This new fund is all about helping get stuck or slow-moving residential projects back on track by stepping in where other lenders can't.
Since 2009, ASK has raised ₹9,500 crore and invested in 73 million square feet of real estate with an average return of 19%.
CEO Amit Bhagat says the goal is to support developers and hit a solid 20% return for investors.