Bengaluru: Shobhit Agarwal, former managing director-capital markets and international director at property advisory JLL, has launched ANB Capital Advisors Pvt. Ltd, an investment banking firm focused on the real estate sector.
Once it builds this business, it may under-write deals through either fund-raising on its own or through a managed account route.
Agarwal’s exit from JLL is the second exit of a key executive after Santhosh Kumar, former CEO-operations left the firm to join Anarock Property Consultants. Anarock has been set up by Anuj Puri, former chairman and country head at JLL, who left the firm in January 2017.
Mumbai-based ANB Capital will focus on various real estate asset classes such as hotels, land, warehousing and logistics along with capital market and corporate finance.
“The capital requirements in Indian real estate are immense. If we consider the larger sector beyond residential, the capital infusion requirements are virtually limitless," said Agarwal, managing director and CEO, ANB Capital Advisors.
Agarwal said while there are many investing banking firms, there is hardly any that exclusively focuses on real estate.
“While there is equity and debt capital available, in most cases developers and funding avenues cannot connect with each other due to lack of resources, connections and intent. Developers need services that precisely understand capital providers’ needs, while capital providers look for trustworthy intermediaries," he said.
The firm will work with developers, landowners and capital providers, including private equity funds, banks, insurance companies and financial institutions.