ASK Property Investment Advisors exits from Liviano, Pune based project

NEW DELHI: ASK Property Investment Advisors, a Real Estate Private Equity firm has exited from Liviano, a Pune based project by Darode Jog Properties. The PE firm that has invested Rs 37 crore between September 2010 and March 2011 sold its investment to the same promoters for Rs 87 crore.

The Darode Jog investment was made from ASK Group's first Rs 326 crore Special Opportunities Portfolio. The investment has given a annual return of 30%. This follows an earlier exit made by the PE firm in April 2012 in which it exited its investment in a Noida based project (ATS – One Hamlet), where it had earned an internal rate of return of 54% in 2 years.

ASK raised its first fund in 2009, which was fully deployed by March 2012, in 7 projects in 4 cities including Pune, Delhi, Chennai and Mumbai.

ASK Property Investment Advisors' CEO & MD Amit Bhagat said, "After this exit we have returned 70% of the first fund to investors and are confident of completely exiting the first fund in the current financial year." The PE firm has already chalked out plans of exits from some of our other investee companies over the next 6 to 12 months.

ASK Group is currently manages real estate assets of more than Rs 2100 crore. The Group has successfully raised two domestic funds and an offshore fund amounting to approximately Rs. 1600 crore and has raised structured debt of about to Rs.500 crore. ASK Group's offshore fund which has already announced its first close of $50 million, is inching towards closing the next $150 million.