ASK Property Fund and India Sotheby’s International Realty Launch India’s First Luxury Real Estate Investment Platform
ASK Property Fund, the real estate private equity arm of Blackstone-backed ASK Asset & Wealth Management Group, has joined hands with India Sotheby’s International Realty (India SIR) to raise ₹1,000 crore equity for the launch of ASK Curated Luxury Assets Fund, with an additional greenshoe option of ₹500 crore. This new fund will be India’s first luxury real estate investment platform, offering investors access to high-end and luxury real estate developments in Tier 1 cities and premium holiday home destinations.
The fund, registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI (Alternative Investment Funds) Regulations, 2012, aims to focus on residential investments in the luxury segment. It is designed to generate risk-adjusted returns by targeting high-end residential projects in vibrant and sought-after markets, including second-home destinations and religious hubs.
Amit Goyal, Managing Director of India SIR, emphasized the robust track record and investment insights that ASK Property Fund brings, having successfully managed some of India’s top-performing real estate funds.
“We are confident that India’s strong economic fundamentals, along with the growing number of affluent individuals, will continue to drive growth in the country’s luxury residential market,” said Amit Bhagat, Co-Founder, CEO & MD at ASK Property Fund. The collaboration with India SIR, known for its strong brand presence and deep expertise in the luxury real estate space, will help launch this exclusive fund, making it the first opportunity-focused luxury residential fund in India.
Capital Raising and Investment Strategy
The fund plans to raise third-party capital from a variety of institutional and individual investors, including family offices, high-net-worth individuals (HNIs), insurance companies, pension funds, banks, financial institutions, sovereign funds, and multilateral institutions, in line with SEBI guidelines.
ASK Property Fund and India SIR will equally commit capital as cosponsors of the fund. With over ₹7,200 crore raised since its inception in 2009, ASK Property Fund has built a reputation as a key player in the real estate sector, with investors ranging from family offices to ultra-high-net-worth individuals (UHNIs) and institutions.
India SIR, a part of the renowned Sotheby’s International Realty network, has a global presence in 83 countries and territories with 1,100 offices and 26,400 sales associates. The network achieved a transaction volume of USD 143 billion in 2023, further solidifying its position as a leading luxury real estate brand.
Fund Details and Future Plans
The ASK Curated Luxury Assets Fund is targeting the completion of its first close in Q1 FY 2026, with the final close expected by Q3 FY 2026, followed by the greenshoe. The fund aims to support 3-4 projects annually, each with individual unit prices starting at ₹8 crore. The fund will focus on projects in high-demand cities like Mumbai, Delhi NCR, Bengaluru, and premium holiday home locations.
Real estate has become a key segment within India’s Alternative Investment Fund (AIF) industry, which raised approximately ₹75,468 crore in the first half of FY25 alone, making up 17% of the total funds garnered. Over the past decade, AIFs have witnessed impressive growth, with a 340% rise in commitments from ₹2,82,148 crore in FY 2019 to ₹12,43,083 crore by H1 FY2025. This underscores the increasing appetite for alternative investment strategies in India, driven by the growing wealth among investors.
About the Companies Involved
ASK Property Fund: Established in 2009, ASK Property Fund is the real estate private equity arm of ASK Asset & Wealth Management Group, which focuses on high-quality, risk-adjusted real estate investments across India. The firm has raised over ₹7,200 crore from family offices, ultra-high-net-worth individuals, and institutional investors. It continues to deliver exceptional returns through its investments in top-performing real estate projects.
India Sotheby’s International Realty (India SIR): A part of the global Sotheby’s International Realty network, India SIR specializes in luxury residential real estate. With a network of over 1,100 offices and 26,400 associates worldwide, it is recognized for its high-end property listings and global reach. India SIR offers its clients a seamless, end-to-end service in buying, selling, and investing in luxury properties, backed by the brand’s deep market expertise and international prestige.
Key Takeaways:
- ASK Property Fund and India SIR have partnered to launch India's first luxury real estate investment platform, aiming to raise ₹1,000 crore.
- The fund focuses on luxury residential developments in Tier 1 cities and premium holiday home destinations.
- The fund targets high-net-worth individuals, family offices, institutions, and other sophisticated investors.
- It aims for its first close by Q1 FY 2026 and will fund 3-4 luxury projects annually with individual unit prices of ₹8 crore and above.
- Real estate investments continue to drive growth in India’s AIF sector, with AIF commitments rising by over 340% in the last six years.
