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Hindustan Times
22-05-2025
- Business
- Hindustan Times
ASK Property Fund, ISIR-backed real estate AIF raises ₹500 crore for Investment in luxury housing projects
ASK Property Fund and India Sotheby's International Realty (ISIR) backed real estate fund has raised ₹500 crore to invest in luxury housing projects across major cities within three months of the launch of its Alternative Investment Fund platform, ASK Curated Luxury Assets Fund- I (ASK CLAF I), the company has said. "This fund, aimed at investing in luxury residential projects, has evoked interest from many of India's prominent family offices, Ultra-High-Net-Worth Individuals (UHNIs), securing an investment corpus of ₹500 crore within 3 months of its launch," ASK Property Fund said in a statement. The fund is primarily focused on capitalising on the expected growth of India's luxury real estate market. It plans to invest in early-stage developments at attractive entry valuations, with a focus on premium residential projects in major cities, as well as horizontal developments like second homes and holiday properties. As an equity-focused vehicle, the fund aims to capture the project's profit margin and is targeting a minimum return of 2x or more on invested capital, Ask Property Fund said. This fund plans to immediately start deploying funds as per its investment strategy and aims to raise a total of ₹1,500 crore, including a ₹500 crore green shoe option, towards its final close. Also Read: ASK Property Fund and India Sotheby's International Realty join hands to launch ASK curated luxury assets fund ASK Curated Luxury Assets Fund I is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI AIF Regulations. "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," Amit Bhagat, co-founder, CEO and MD at ASK Property Fund, said. ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset and Wealth Management Group, is the investment manager and sponsor of the AIF, while India Sotheby's International Realty is co-sponsor and real estate advisor.
Morocco World
24-03-2025
- Business
- Morocco World
Atlas Capital Launches Private Equity Unit, Names Khaoula Ramdi as Head
Doha – Atlas Capital Group has appointed Khaoula Ramdi as the managing partner of its newly established private equity division, Atlas Capital Private Equity (ACPE), marking a strategic entry into Morocco's expanding private equity market. The new unit, currently awaiting regulatory approval from the Moroccan Capital Market Authority (AMMC) for collective investment fund management, aims to raise at least MAD 1 billion ($100 million) in its inaugural fundraising campaign through Atlas Capital Fund I (AC Fund I). The launch comes as Morocco continues to strengthen its position as a key private equity player in Africa. Atlas Capital, an investment bank wholly owned by its management, is broadening its offerings under the leadership of Rachid Marrakchi, who joined as board chairman in June 2023 after serving 24 years as an executive board member and CEO of BMCI. Ramdi brings over two decades of private equity expertise to her new role. Prior to joining Atlas Capital, she served as managing director at Upline Investments, where she structured two collective investment funds totaling MAD 2 billion ($200 million). Her track record includes managing funds with sizable assets under management: €85 million at Upline Group, €210 million at Investisseurs & Partenaires, and involvement with Sarona Asset Management's $329 million portfolio. The new division will focus on providing investors with diversification opportunities through Collective Capital Investment Funds (FPCC). This investment mechanism allows for direct capital participation in unlisted companies, particularly targeting growing businesses, companies undergoing restructuring, as well as innovative ventures. Ramdi's extensive experience spans multiple markets and includes positions at prominent firms. She worked as an investment director at Investisseurs & Partenaires in Paris, focusing on Sub-Saharan African SMEs, and as a senior investment officer at Sarona Asset Management in Toronto. Earlier in her career, she managed the Massinissa fund at Almamed, which invested €50 million in Moroccan SMEs, and worked at Capital Invest, overseeing three funds with €160 million in assets. Ramdi holds degrees from Paris-Dauphine University and ISCAE Casablanca, along with a French Certified Public Accountant qualification. She began her career at Arthur Andersen/Ernst & Young Paris, where she worked in audit and transaction services. The launch of ACPE and the pending launch of its first fund represent Atlas Capital's strategic move to capitalize on Morocco's fast-evolving private equity market, particularly focusing on supporting SMEs and startups, which are considered integral to the national economy. Read also: Hassan Laaziri Elected President of Morocco's Capital Investors Association AMIC Tags: private equity firm in morocco
Yahoo
20-02-2025
- Business
- Yahoo
Cherryrock Capital raises new $172M fund from all-star investors to back diverse founders
Cherryrock Capital, founded by ex-TaskRabbit CEO Stacy Brown-Philpot, announced Wednesday the closing of its $172 million Fund I with an all-star limited partner list that includes JPMorgan, Goldman Sachs, MassMutual, Melinda French Gates' Pivotal Ventures, Reid Hoffman, Mellody Hobson, and Sheryl Sandberg. Brown-Philpot told Bloomberg that the fund actually closed in January. The firm launched in 2023 during what was a challenging period for fundraising in the venture industry. As a result, Brown-Philpot said it took about two years for the firm to close Fund I, she told the outlet. Fund I seeks to focus on companies at the Series A and B stages, with Brown-Philpot noting in her announcement blog post that there are few firms focused on leading later-staged investments for diverse founders. Cherryrock did not immediately respond to our request for comment. The fund's thesis comes during a time when diversity initiatives, programs, and focuses are under political and legal fire. So far, Cherryrock has already backed two companies: co-leading the Series B of the AI company Coactive AI alongside Emerson Collective. Other investors included a16z and Bessemer. Cherryrock also invested in the Series A round for the YC health company Vitable, alongside Citi Impact Fund and First Round Capital. Brown-Philpot is extremely accomplished. She previously worked at Alphabet and Google and serves on the board of various companies including StockX and HP. She was also a founding member of the Opportunity Fund, which is Softbank's $100 million vehicle for backing diverse founders. Sign in to access your portfolio
