Realty-focused PE firm Ask Group has announced its exit from Raj Altezza, a project by Rajesh Lifespaces in Mulund, Mumbai.
The investment was made in August 2011 from ASK Group’s second fund of Rs 1,000-crore ‘ASK Real Estate Special Opportunities Fund’.
The investment totalling Rs 55 crore has given a multiple of 2.26 times amounting to an exit value of Rs 124.4 crore thereby recording an IRR (internal rate of return) of 26 per cent.
This is the first exit from ‘ASK Real Estate Special Opportunities Fund’, which was raised in 2011-2012 and is fully committed in Mumbai, Pune, Bengaluru and NCR.