SK Curated Luxury Assets Fund - I (ASK CLAF I) - a luxury fund launched as a collaboration between ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group and India Sotheby’s International Realty (SIR), has announced its initial close. This fund, aimed at investing in luxury residential projects, has evoked substantial interest from many of India's prominent family offices, Ultra-High-Net-Worth Individuals (UHNIs), securing an investment corpus of INR 500 crore within 3 months of its launch.
Amit Bhagat, Co-Founder, CEO & MD at ASK Property Fund, said, "This collaboration and strategy present a unique proposition. The fund benefits significantly from SIR’s capability to monetize projects through its extensive network, experience, and access to premium land parcels. We believe the fund can secure exclusive deals for our select developer partners via curated opportunities and maximize returns through well-structured investments."
The primary focus of this fund is to leverage the projected growth in India's luxury real estate market. It intends to provide funding in early-stage projects at favourable entry points, mainly in high-end residential projects in major cities, as well as horizontal projects such as second homes and holiday homes. As an Equity-focused fund, it aims to target the profit margin of the project, striving to achieve a minimum multiple of 2 times or more of invested capital.
Amit Goyal, MD, India Sotheby’s International Realty, added, "We’re excited to welcome industrialists, eminent professionals, family offices, and discerning HNI investors who recognise the rare ecosystem being shaped through the ASK Curated Luxury Assets Fund - I. This isn’t just real estate—it’s the unlocking of high-potential land parcels, backed by the right capital and elevated by bespoke luxury. With the luxury residential market now entering a more mature phase, and the initial exuberance beginning to stabilise, we’re confident of striking smarter, better-valued deals with landowners and developers alike. This positions us to unlock high-impact opportunities at the right value, maximising the upside potential for our investors. Over the last eight years, we have successfully executed hundreds of prime land transactions across India. Leveraging this deep market insight and transaction expertise, we are now poised to curate bespoke luxury developments featuring serviced residences in carefully selected micro-markets with strong, sustainable demand."
ASK Curated Luxury Assets Fund I, registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI AIF Regulations, is a first-of-its- kind collaboration between ASK Property Fund (Investment Manager and Sponsor) and India Sotheby’s International Realty (Co-Sponsor & Real Estate Advisors), the global leader in luxury real estate. This fund plans to immediately start deploying funds as per its investment strategy and aims to raise a total of INR 1,500 crs, including a green shoe option of INR 500 crs, towards its final close.
The fund is dedicated exclusively to investing in high-end residential developments across major cities, holiday homes and second-home destinations—including religious and spiritual hubs.
