ASK Property Fund (ASK), the ASK Group’s real estate private equity arm, announced cumulative exits totaling Rs 830 crore from various funds in 2022.

The real estate private equity firm recently exited Gulshan Homz’s Gulshan Dynasty project in Noida for Rs 220 crore, resulting in an internal rate of return (IRR) of 21 per cent. The exit was self-liquidating, with periodic distributions from sales and project collection.

As a result of this latest exit, the total amount invested in real estate has increased to Rs 830 crore in 2022 and Rs 1,300 crore since April 2021. The average return over the course of 18 completed exits is 22.33 per cent. Among the 18 exits are Jewel Square and Kumar Prospera in Pune, TVS Green Enclave in Chennai, and Gulshan One 129 in Noida.

Since 2009, ASK Property Fund has raised approximately Rs 5,000 crore ($800 million), with investors including family offices, ultra-high net worth individuals (UHNI), high net worth individuals (HNI), and institutions.

It is part of the ASK Group, which has offices and branches in India, Dubai, and Singapore and manages assets worth over Rs 79,000 crore ($9.55 billion) as of October 31, 2022. It offers portfolio management services and alternative investment funds, real estate private equity and wealth advisory, and multi-family office services to a wide range of asset classes and investors.

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