Former Xander Executive Amar Merani Joins IIFR as Head of Real Estate Strategy
BENGALURU: IIFL Asset Management Co. (AMC) announced on Wednesday that it has appointed Amar Merani to lead real estate strategy, where he will lead the team in managing investments and building the company’s client base.
Merani is from Xander Finance, the non-bank finance company (NBFC) of Xander Group Inc., of which he was the CEO since 2012.
IIFL said Merani has over 25 years of professional experience and has been involved in fundraising, exiting and executing high yield structured debt transactions at leading companies. Prior to Xander, his previous stints included Kotak Investment Banking, Lazard India, IL&FS Infrastructure Finance and PwC.
Karan Bhagat, Founder, Managing Director and CEO of IIFL Wealth and Asset Management, said: “With the emergence of Reits (real estate investment trusts) as a new asset class, real estate offers enormous potential for growth. . Amar’s rich experience, coupled with a deep understanding of credit and equity, will further enhance our real estate offerings.
Most of the real estate-focused non-bank financial firms that have provided a crucial financial lifeline for developers have significantly reduced their exposure since the IL&FS fiasco in 2018.
“I am delighted to take on 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 company’s talented team to create differentiated products suited to the dynamic market environment, ”said Merani.