ASK Property Fund Invests Rs 340 Cr in Mantra Group

New Delhi, Jan 12 (PTI) ASK Property Fund has invested Rs 340 crore in three housing projects of Mantra Group.

ASK Property Fund is the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group.

In a statement on Monday, the company said it has invested Rs 340 crore in a portfolio comprising three residential projects spearheaded by Mantra Group.


This investment will help Mantra Group in acquiring two projects through the National Company Law Tribunal (NCLT) route, as well as supporting an additional ongoing residential project.

"Part of the allocated funds will be directed towards settling outstanding dues owed to financial creditors, with the balance utilised to address the projects' working capital requirements," ASK Property Fund said.

One project is located in Mumbai, while the other two are in Pune.

ASK Property Fund is the alternate asset investment arm of the ASK group. It has raised over Rs 8,700 crore since 2009.