ASK Fund Sets Out to Raise INR 1,000 Crore for Luxury Real Estate Investments in Tier-I Cities and Holiday Destinations

ASK Property Fund, the real estate private equity division of the Blackstone-backed ASK Asset & Wealth Management Group, has partnered with India Sotheby’s International Realty to launch the ASK Curated Luxury Assets Fund.

The initiative aims to raise ₹1,000 crore in equity, with an additional ₹500 crore greenshoe option, marking India’s first luxury-focused real estate investment platform.

Investment Focus on Luxury Developments

The fund is targeting high-end residential and luxury real estate projects in Tier-I cities and premium holiday destinations, including vacation and pilgrimage hotspots. The goal is to cater to India’s growing pool of wealthy individuals and capitalize on the country’s solid economic fundamentals.

SEBI Registration and Sponsorship Commitments

The fund is registered with SEBI as a Category-II Alternative Investment Fund (AIF). Both ASK Property Fund and India Sotheby’s International Realty, acting as co-sponsors, are making equal capital commitments to support this initiative.

Track Record of ASK Property Fund

Since 2009, ASK Property Fund has raised ₹7,200 crore from a mix of family offices, ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), and institutions, demonstrating a strong history in real estate investments.

Global Expertise of Sotheby’s International Realty

India Sotheby’s International Realty leverages a network spanning 83 countries, with 1,100 offices and over 26,400 sales associates. In 2023, the network achieved a transaction volume of $143 billion, reflecting its global leadership in luxury real estate.

Timeline and Investment Plans

The fund is planning its first close by Q1 FY26, with a final close by Q3 FY26, including the greenshoe option. It intends to fund 3-4 luxury projects annually, each with unit prices starting at ₹8 crore.