News Services

Top talents at real estate PE funds seek brighter prospects


Bengaluru | Mumbai: The real estate private equity space is witnessing a talent exodus with top dealmakers departing to set up their own funds, open consultancies and even join major property developers. The trend underscores India’s resurgent realty sector post the pandemic, creating lucrative opportunities for enterprising professionals.

Notable recent departures in this niche specialised segment include Chanakya Chakravarti, who was with CDPQ’s Ivanhoe Cambridge; Sharad Mittal, former CEO of Motilal Oswal Real Estate, and Investcorp’s Ritesh Vohra, who has now assumed the role of a senior advisor at the firm.

“India is on the path of becoming a well-structured economy and becoming one of the top three global economies. Real estate sector will be a key contributor to this growth and recognising the potential, the government and regulators are also trying to support it with apt reforms and policies,” said Chakravarti, former head of indirect investments, Asia-Pacific, Ivanhoe Cambridge, the real estate arm of CDPQ. He said formalisation of the realty sector will lead to a growth pattern similar to the one seen in the financial services over the last three decades.

After almost a decade with Motilal Oswal RE, Sharad Mittal, CEO of the fund has also embarked on an entrepreneurial journey with the vision of setting up a real estate-focused PE fund house through the new venture, Arnya Realestates Fund Advisors.

“The objective is to make a real difference in the real estate investment management business in India by being a real estate-focused independent fund manager and by leveraging our deep experience and track record. We are in the midst of taking various regulatory approvals for the establishment of our fund, Arnya Real Estate Fund-Debt,” Mittal said.

Avnish Singh, who spent over 11 years with Tishman Speyer; and Avinash Sule, co-head, and senior advisor with Jaguar Growth Partner with over 13 years at Qatar Investment Authority (QIA) had joined RMZ Corp to drive residential and warehousing business for the company. According to experts, the exodus of top talent on real estate fund side is across top positions, with many new funds looking at India as a growth opportunity. Anshul Lodha, managing director at Michael Page, anticipates the expansion of existing funds and the entry of Asian funds into the real estate PE segment to further drive demand for talent.”Real estate private equity space is very niche in nature and there are many Asian funds and sovereign wealth funds looking for talents to set up India offices. We have mandates from numerous Asian-focused funds aiming to establish their leadership teams in India,” Lodha said. “Real estate funds must focus on building a portfolio with a tailored approach to meet local business needs. The funds that have been more flexible and forward-thinking have not only retained their talent but have also successfully attracted new talent,” said Monica Agrawal, MD, financial services, Asia Pacific, Korn Ferry International.


Source link