Real estate fund managers rush to raise fresh money as banks baulk

Given the dearth of funds and a growing investor appetite, real estate-focused private equity fund managers are raising fresh money. From Godrej Fund Management to Motilal Oswal to ASK Group, fund managers have launched or raised funds worth Rs 7,000 crore in the past six months.

Early this week, ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, launched a fund with a corpus of Rs 1,000 crore. It also has the option to raise Rs 1,500 crore via a greenshoe option.

“For large family offices and high networth individuals it is a good