ASK Group to raise $1 bn across realty, private equity

Financial services firm ASK Group said on Wednesday it would raise $1 billion across real estate, private equity (PE) and listed securities in the next three years and expand its global presence.

The group will raise $300 million of real estate fund, $400-450 million of equity and $150-200 million of PE funds.

ASK Group handles $3 billion (Rs 17,000 crore ) of assets across real estate, PE, listed securities, and multi family offices. "We had raised $50 million offshore realty fund in 2014 and $300 million in listed equities. Times are changing for India. India is emerging as a preferred destination for real estate, PE and listed securities. Hence, we are going for new fund raising," said Sunil Rohokale, managing director and chief executive officer (CEO), ASK Group.

To spearhead the global plans, the group announced the appointment of Evan Gallagher as CEO and executive director of ASK Capital Management, the Singapore subsidiary of ASK Group.

In his new role, Gallagher will lead the international capital markets approach for ASK Group's listed equity, real estate investments and PE businesses. Prior to joining ASK Group, he was the CEO of IDFC Capital, where he created and led the investor management group for IDFC's alternative asset management business, which manages in excess of $3 billion.