Amar Merani quits Xander to join IIFL’s real estate investment unit

 Amar Merani quits Xander to join IIFL’s real estate investment unit

Senior finance professional Amar Merani has quit as managing director and CEO of real estate-focused investment group Xander to join Mumbai-based financial services firm IIFL.

Merani has joined IIFL as head of real estate strategy and its chief investment officer, as per his LinkedIn update.

Merani started his career with PwC around 27 years ago. He then moved to IL&FS in the project advisory and debt syndication group before moving to Kotak Mahindra Capital where he was involved in equity capital markets and private equity advisory teams.

Thereafter, he had a short stint at Lazard in the M&A advisory unit looking after TMT, hospitality and industrials sectors.

He moved back to Kotak Investment Bank in 2006 and was involved with a bunch of real estate-related fundraising mandates including IPOs and private equity. In 2012, he joined Xander and has led the firm for the last nine years.

Xander was founded by Sid Yog in 2005 and is one the key names in real estate investments in the country. It is particularly known for its retail real estate platform. Rohan Sikri, who is a senior partner at the group, is another key member of Xander.

IIFL Asset Management, a part of the IIFL Wealth group, is a multi-asset investment manager. It offers onshore and offshore asset management via a suite of mutual funds, alternative investment funds and venture capital funds spanning public and private equities, fixed-income securities and real estate.

Led by Karan Bhagat and Manoj Shenoy, the business had assets under management of around Rs 22,000 crore as of March 2020. In the real estate field, it has raised over $1 billion across eight funds in the past, some of which it has exited by now. Another senior member of the realty investment unit at IIFL Asset Management is Vivek Mishra.

Pallavi S

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