ASK Property Fund will raise ₹3,500 crore from domestic and foreign investors for its fourth debt fund and deploy the capital for the development of mid-income housing projects.In a statement on Wednesday, ASK Property Fund, which is part of the Blackstone-backed ASK Asset & Wealth Management group, said it has launched a fourth debt fund with a target corpus of ₹3,500 crore.The fund named 'ASK Real Estate Special Situations Fund IV (ASK Debt Fund IV)' aims to raise capital from both domestic and offshore investors.ASK Debt Fund IV will invest in mid-segment housing projects across India's six key cities– MMR, NCR, Pune, Bengaluru, Chennai and Hyderabad.The fund is structured to offer both solution-capital, including lender replacement and project completion funding, as well as growth capital for acquisitions, including the purchase of stalled projects in NCLT or those with established approvals.Amit Bhagat, Co-founder, MD and CEO, ASK Property Fund, said, “The out- performance of our earlier debt funds against the benchmark demonstrates the strength of our underwriting discipline, active asset management and risk management framework." With a track record of 40 full exits delivering a simple average IRR of 19 per cent and a MoIC of 1.8x, he said it is confident of generating strong risk-adjusted returns."Through this fund, we aim to strengthen our partnerships with leading developers, offer tailored capital solutions, and support the growth of India’s residential real estate market," Bhagat said.The Fund would meet capital needs across selected residential opportunities while targeting investment-level returns of 20 per cent.Over the past two years, ASK Property Fund has successfully raised around ₹2,500 crore across debt and equity strategies with capital mobilized predominantly from domestic and offshore investors.In 2025-26, ASK Property Fund committed Rs 2,100 crore across projects. It also delivered Rs 1,300 crore of exits to investors during the last fiscal.ASK Property Fund, registered as ASK Property Investment Advisors Pvt Ltd (ASK PIA), is the alternate asset investment arm of the ASK group.ASK PIA has raised Rs 9,500 crore since 2009 and has invested in projects spanning 73 million sq ft mainly in MMR, NCR, Bengaluru, Pune, and Chennai.Published on June 10, 2026