This is the fourth real estate fund of the firm which it plans to invest in residential projects across six markets - Mumbai, Pune, Chennai, Bangalore, Delhi-NCR and Hyderabad.
"We are launching the new fund now considering the improved market sentiment as well as willingness of investors to invest with a group that has a focused investment strategy," ASK Group Managing Director and CEO Sunil Rohokale told reporters here.
The Rs 1,500 crore fund named ASK Real Estate Special Opportunities Fund II, which will be managed by ASK Property Investment Advisors, is the largest domestic real estate fund by any player in the country in last five years, he said.
The company expects to complete the fund raising in the next 12 months, he said.
It has already raised two domestic funds, each of Rs 340 crore in 2009 and Rs 1,000 crore in 2011-12.
It has also launched USD 200 million offshore fund. Out of the USD 200 million, the company has raised USD 50 million and of this, USD 11 million has already been invested in various projects.
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