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Indiabulls Asset Management, part of Indiabulls group, has stated that they have appointed Mr.Ambar Maheshwari, as CEO of its alternate investment funds business which it is under the process of being up.
The AIF team will be investing primarily in real estate. Maheshwari was previously the Managing Director of Corporate Finance at Jones Lang LaSalle. Prior to this, Mr.Maheshwari has also been worked and served key positions in leading companies like KPMG, DTZ, Ambit Corporate Finance and Infrastructure Leasing & Financial Services.
Indiabulls’s fund will hence invest mostly in debt securities. This will be done through listed non-convertible debentures of the developers who are undertaking residential projects in the top 7 property markets of the country.
Indiabulls Housing Finance is said to be the sponsor of the fund. Indiabulls Real Estate Fund will also invest in secured debt of these developers.
Established in 1999, India Bulls is an Indian conglomerate based out of Gurgaon and with presence in diversified sectors like real estate, housing finance, infrastructure, retail and power. The company was founded by Sameer Gehlaut and Rajiv Rattan, as a defunct securities company and concentrating on brokerage services.
Source: Business Standard
Ambit Corporate Finance, DTZ, Housing finance, Indiabulls Asset Management, Infrastructure, Infrastructure Leasing & Financial Services, Jones Lang LaSalle, PMG, Realty News, Retail
