<p>ASK Property Investment Advisors, the property fund arm of ASK Group, on Wednesday, announced its plans to launch a $200-million (Rs 1,100 crore) international real estate fund next month.<br /><br /></p>.<p>The fund plans to do initial closure in March 2013 and final closure in 12 months after that, said Sunil Rohokale, CEO and managing director, ASK Investment Holdings in media briefing here.<br /><br />With the proposed launch of the fund, ASK joins half a dozen fund managers such as HDFC, IDFC, IL&FS, Indiareit, Kotak, Tata Realty & Infrastructure which are planning to launch overseas realty funds. The fund seeks to have gross returns two times the funds invested and 20 per cent internal rate of return (IRR).<br /><br />The fund titled ‘ASK India Real Estate Special Opportunities Fund’ will be the Group’s first such fund to be based out of Singapore, said Amit Bhagat, Chief Executive Officer and Managing Director, ASK Property Investment Advisors, adding, “We will invest in mid-segment housing where assets are self-liquidating.” The fund will have a life of six years, which can be extendable by two years.<br /></p>
<p>ASK Property Investment Advisors, the property fund arm of ASK Group, on Wednesday, announced its plans to launch a $200-million (Rs 1,100 crore) international real estate fund next month.<br /><br /></p>.<p>The fund plans to do initial closure in March 2013 and final closure in 12 months after that, said Sunil Rohokale, CEO and managing director, ASK Investment Holdings in media briefing here.<br /><br />With the proposed launch of the fund, ASK joins half a dozen fund managers such as HDFC, IDFC, IL&FS, Indiareit, Kotak, Tata Realty & Infrastructure which are planning to launch overseas realty funds. The fund seeks to have gross returns two times the funds invested and 20 per cent internal rate of return (IRR).<br /><br />The fund titled ‘ASK India Real Estate Special Opportunities Fund’ will be the Group’s first such fund to be based out of Singapore, said Amit Bhagat, Chief Executive Officer and Managing Director, ASK Property Investment Advisors, adding, “We will invest in mid-segment housing where assets are self-liquidating.” The fund will have a life of six years, which can be extendable by two years.<br /></p>
