The ASK Real Estate Special Situations Fund, which falls under Category II AIF (alternative investment fund), will raise about Rs1,000 crore each from domestic and offshore investors and offer capital in the form of preferred equity to developers. Apart from this fund, ASK has another Rs1,500 crore of pure equity dry powder to invest in the next three years. Earlier this month, IDFC Alternatives Ltd, the real estate investment arm of IDFC Ltd, said it has raised its third real estate fund of Rs760 crore from domestic investors. Indiabulls Alternative Investments Ltd is raising up to Rs1,000 crore from non-resident Indians, persons of Indian origin and other foreign investors, and IIFL AMC Ltd has raised a Rs750 crore debt fund. Ltd has launched Alpha Advantage Real Estate Fund, which will focus on equity investments.

Source: Mint October 19, 2016 18:45 UTC