ASK Alternatives
AIFIME's View on ASK Alternatives
AMC View
ASK, a market leader with a strong investment policy and a highly skilled in-house team, has further solidified its position with Blackstone acquiring a majority stake in its asset management business. Its alternatives division is strengthened by strategic talent acquisition and a strong commitment to nurturing top-tier investment professionals.
AMC Pedigree
ASK is a premier PMS provider recognized for generating sustainable, long-term returns with minimal risk. Over the past decade, ASK has ventured into alternative investments, especially real estate and has now entered into the long-short space.
Team Pedigree
Under the leadership of Bharat Shah, ASK has strengthened its alternatives division by bringing in top industry talent with pedigreed expertise. Vaibhav Sanghvi and Piyush Shah, both seasoned professionals in the long-short space, joined ASK from Avendus, while the Real Estate team is led by Amit Bhagat, a key member of the ASK Group since 2008. Vaibhav Sanghvi and others have ESOPs worth ~30% in the company.
Investment Philosophy
While ASK’s PMS division has consistently adhered to a GARP investment philosophy with no style drift, its alternative strategies are tailored to suit each investment approach. However, the firm remains committed to strategy adherence and upholding the high-quality standards that define ASK, backed by the expertise of its seasoned team.
AMC History
ASK, a market leader with a strong investment policy and skilled in-house team, has expanded beyond PMS into alternative investments, including real estate and long-short strategies. With Blackstone acquiring a majority stake in its asset management business, ASK continues strengthening its alternatives division through strategic talent acquisition while maintaining its legacy of disciplined investing and sustainable long-term returns.
Investment Philosophy
While ASK’s PMS division has consistently adhered to a GARP investment philosophy with no style drift, its alternative strategies are tailored to suit each investment approach. However, the firm remains committed to strategy adherence and upholding the high-quality standards that define ASK, backed by the expertise of its seasoned team.
Investment team
Vaibhav Sanghavi | 5-star rated FM
CEO - Long Short | 26 yrs Experience | 2 yrs at current firm
Past Experience: Avendus (Co-CEO), Ambit Investment Advisors (Hedge FM), DSP ML (Proprietary Trader), HDFC Bank (Prop trader)
Vaibhav has worked along with Andrew Holland at both Ambit (where he helped run one of India's most successful hedge funds) and DSP ML (where he was a prop trader managing a $1 bn book). With a strong pedigree in proprietary trading and long-short strategies, he was the co-manager with Andrew for managing Avendus's long-short strategies. He joined ASK as their CEO on Aug-23.
Piyush Shah | 3-star rated FM
CIO - Long Short | 22 yrs Experience | 2 yrs at current firm
Past Experience: Avendus, Ambit
Piyush Shah, CIO & Fund Manager at ASK Group, leads the Alternate Investment platform, overseeing investment strategy, portfolio management, and business operations. With over 25 years in Indian equity markets, he specializes in derivatives and fundamental analysis, delivering strong risk-adjusted returns. He began his career at DSP Merrill Lynch, later managing a $1B proprietary book. At Ambit, he launched one of India’s first long-short AIFs, scaling AUM to ₹1200 Cr. At Avendus (2016-2023), he expanded the business, reaching ₹7000 Cr AUM. Piyush holds a Financial Management degree from Mumbai University.
Amit Bhagat | 4-star rated FM
CEO - Real Estate | 17 yrs at current firm
Past Experience: ICICI Bank, ICICI Property Services
Amit Bhagat Co-founded the Real Estate Private Equity business of ASK Group in 2008. He has experience of more than a decade in the mortgage finance including as National Credit Head for the mortgage division of ICICI Bank. He was also the head of ICICI Property Services and has advised/syndicated over US $ 500 Mn of private equity investments. At ASK, he has raised and manages/advises an offshore and three domestic funds amounting to US $ 500 mn. He has invested in 25 projects in five cities and demonstrated complete exits from 11 projects.
