IIFL Asset Management Co. ha snamed Amar Merani as head of real estate strategy. He will lead the team in managing investments and building the company’s client base
BENGALURU: IIFL Asset Management Co. (AMC) on Wednesday said it has appointed Amar Merani as head of real estate strategy, where he will lead the team in managing investments and building the company’s client base.
Merani joins from Xander Finance, the non-banking financial company (NBFC) of Xander Group Inc., where he was the CEO since 2012.
IIFL said Merani has more than 25 years of work experience and was involved in fund raising, exits, and executing high-yield structured debt transactions at prominent firms. Before Xander, his previous stints included Kotak Investment Banking, Lazard India, IL&FS Infrastructure Finance and PwC.
Karan Bhagat, founder, managing director and CEO, IIFL Wealth and Asset Management said, “With the emergence of Reits (Real estate investment trusts) as a new asset class, real estate offers tremendous growth potential. Amar’s rich experience coupled with deep understanding of both credit and equity, will further enhance our real estate offerings."
Most real estate focused Non-banking financial companies that provided a crucial financial lifeline to developers have drastically cut down exposure since the IL&FS fiasco in 2018.
“I’m delighted to take up this role to lead the real estate business at IIFL AMC, which is a leader in the AIF space and known for innovation. I look forward to working with the firm’s talented team to create differentiated products suited for the dynamic market environment," Merani said.