ASK Curated Luxury Assets Fund-I (CLAF-I), a collaboration between ASK Property Fund and India Sotheby’s International Realty, has established a Rs 500 crore equity platform focused on luxury second homes.

The platform will invest in high-end branded residences in key locations such as the Mumbai Metropolitan Region (MMR), Pune, and the National Capital Region (NCR). CLAF-I aims to create exceptional residential properties with premium design and hospitality that cater to ultra-high-net-worth individuals (UHNIs). The fund, registered as a Category II Alternative Investment Fund (AIF) by SEBI, plans to raise Rs 1,500 crore, including a Rs 500 crore green shoe option, to scale its investments.

Amit Bhagat, CEO and MD of ASK Property Fund, highlighted the growing demand for luxury second homes among UHNIs and emphasised strong project-level profitability. India Sotheby’s will leverage its luxury market expertise to optimize returns. Since 2009, ASK Property Fund has raised over Rs 8,500 crore in private equity investments.