ASK Property Fund and ISIR Raise ₹500 Crore for Luxury Housing Projects Across India

ASK Property Fund, in collaboration with India Sotheby’s International Realty (ISIR), has announced the successful raise of ₹500 crore within three months of launching their new Alternative Investment Fund (AIF) platform, ASK Curated Luxury Assets Fund-I (ASK CLAF I). The capital will be directed toward early-stage luxury residential projects across key Indian cities, marking a strategic move in the high-end real estate investment segment.

This fund targets India’s growing demand for premium housing. It is structured as a Category II AIF, registered with the Securities and Exchange Board of India (SEBI). According to ASK Property Fund, the capital raised will be deployed in upcoming projects located in metro cities and prominent second-home destinations. These include high-value apartments, villas, and other premium residential formats.

ASK CLAF I is a sector-focused equity investment fund with an emphasis on early-stage opportunities. The goal is to acquire stakes at attractive valuations, enabling the fund to capture a significant share of the development profit margin. It also seeks to work closely with select developers through curated partnerships. The fund's strategy is backed by a robust network, strong deal sourcing, and ISIR’s access to premium land parcels.

Amit Bhagat, CEO and Managing Director at ASK Property Fund, noted that the fund has attracted investments primarily from ultra-high-net-worth individuals (UHNIs) and family offices. He emphasized that the combination of ASK’s investment capabilities and ISIR’s advisory support presents a compelling value proposition for both developers and investors. “We believe this platform enables us to secure exclusive deals and offer structured investments with a focus on capital efficiency,” he said.

The fund’s structure allows it to focus on early-stage equity investments, differentiating it from debt-based models. ASK CLAF I plans to start capital deployment immediately, with an initial pipeline of select residential projects already under review. It aims to achieve a minimum return of 2x on invested capital over the investment horizon, according to the firm’s statement.

ASK Property Fund is the real estate investment arm of ASK Asset & Wealth Management Group, which is backed by global investment firm Blackstone. The fund sponsor, ASK Property Fund, brings years of experience in structured real estate investing, while ISIR, as the co-sponsor and real estate advisor, contributes deep expertise in luxury property sales and project marketing.

The partnership leverages ISIR’s premium buyer network and land sourcing capabilities. According to ASK Property Fund, this will support the fund in identifying promising locations and development teams for effective capital deployment. Projects selected by the fund are expected to align with demand patterns in the luxury real estate segment, especially in the post-pandemic environment, where preferences for spacious and well-located residences have grown stronger.

ASK CLAF I has a target corpus of ₹1,500 crore, including a ₹500 crore green shoe option. The firm expects to reach its final close in the coming quarters as investor interest continues to build. Future phases of fundraising will focus on bringing in more domestic and international investors, depending on regulatory clearances and market conditions.

The fund’s emphasis on capital appreciation, project-level involvement, and early-stage investment distinguishes it from traditional real estate vehicles. By combining institutional investment principles with real estate market expertise, ASK and ISIR aim to create a scalable investment platform tailored for the evolving luxury housing landscape in India.

This fund marks a notable development in India’s alternative investment space, especially within the premium real estate category. As the luxury housing sector shows signs of sustained growth, ASK CLAF I is positioned to capitalize on this momentum with a disciplined investment approach and targeted project selection.