In CY 2022, ASK makes cumulative exits of ₹1,000 crore
ASK Property Fund (“ASK”), the real estate private equity arm of the ASK Group, announced an exit of ₹120 cr from Eldeco Centre. The exit amount was ₹120 cr and has achieved multiple of 2.54x and IRR of 21%. The project is a commercial development comprising of retail and office spaces in South Delhi.
“Excellent metro connectivity, established neighbourhood, availability of public transport & social amenities are the primary reasons of robust demand in the area. New Delhi is an established office market with total stock of more than 12 million sq. ft. and stable vacancy rate of around 10-12%”, he added.
With the latest exit, ASK has made cumulative exits of ₹1,000 cr in calendar year 2022. It has been an eventful year for ASK Property Fund across fund-raising, investments and exits. They’ve raised approx. ₹800 cr and are targeting ₹1,500 cr by March 2023. Out of this fund, they’ve already committed ₹500 cr.
About ASK Group | ASK is a leading player in the asset & wealth management business and primarily caters to the HNI and UHNI market with over three decades of presence. ASK has been a true believer in the Indian growth story and over the years has grown hand-in-hand with its clients across the globe. ASK is represented in India through its three key businesses: Portfolio Management Services & Alternative Investment Funds – ASK Investment Managers Ltd.; Real Estate Private Equity – ASK Property Fund; and Wealth Advisory and Multi-Family Office Service – ASK Private Wealth. It has over 25 offices and branches across India, Dubai, and Singapore. It caters to multiple asset classes and investors (such as HNI, institutional, family office, pension funds, funds of funds and sovereign wealth funds) across Asia, the Middle East, Africa, and Europe. ASK group manages assets over ₹79,500 cr (US$ 9.8 bn) as on November 30, 2022.
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