ASK Investment lines up Rs 500-cr real estate fund
The Economic Times, March 10, 2009, Page 6
Rajesh Unnikrishnan, ET Bureau, MUMBAI
AT A time when property prices have been moving southwards and experts themselves predicting a tough period ahead, private equity firm ASK Investment Holdings has launched its Rs 500-crore real estate fund.
ASK management thinks the real estate advisory business will complement its existing wealth management business apart from existing growth opportunities in the domestic property market.
“Equity and real estate are two critical asset classes of the wealth creation process. We are closely observing the trends in the domestic real estate market and are convinced that it has an important place in the long-term wealth creation process,” ASK executive director Sunil Rohokale said. The roadshow for the fund started last week and the initial response, according to him, has been positive.
Mr Rohokale claims his fund’s investment strategy is different compared to its peers. “ASK is providing a liquidity window to the investors. This means that the portfolio manager at the end of three years will be able to provide a liquidity enabling facility where the investor can choose to realise 10% of his capital contribution,” he said. The fund is focusing on the top seven cities in the country and is looking to invest mainly in the residential market with a focus on 200 fundamentally strong real estate developers. “ASK is keen on investing in projects that are already underway or about halfway. Our exit will be through sale of self liquidation of assets rather than a public offering,” added Mr Rohokale.
The Economic Times, March 10, 2009, Page 6
Rajesh Unnikrishnan, ET Bureau, MUMBAI
AT A time when property prices have been moving southwards and experts themselves predicting a tough period ahead, private equity firm ASK Investment Holdings has launched its Rs 500-crore real estate fund.
ASK management thinks the real estate advisory business will complement its existing wealth management business apart from existing growth opportunities in the domestic property market.
“Equity and real estate are two critical asset classes of the wealth creation process. We are closely observing the trends in the domestic real estate market and are convinced that it has an important place in the long-term wealth creation process,” ASK executive director Sunil Rohokale said. The roadshow for the fund started last week and the initial response, according to him, has been positive.
Mr Rohokale claims his fund’s investment strategy is different compared to its peers. “ASK is providing a liquidity window to the investors. This means that the portfolio manager at the end of three years will be able to provide a liquidity enabling facility where the investor can choose to realise 10% of his capital contribution,” he said. The fund is focusing on the top seven cities in the country and is looking to invest mainly in the residential market with a focus on 200 fundamentally strong real estate developers. “ASK is keen on investing in projects that are already underway or about halfway. Our exit will be through sale of self liquidation of assets rather than a public offering,” added Mr Rohokale.
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