Former Xander executive Amar Merani joins IIFL as real estate strategy head
BENGALURU: IIFL Asset Management Co. (AMC) announced on Wednesday that Amar Merani has been named 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-bank finance company (NBFC) of Xander Group Inc., where he has been CEO since 2012.
According to IIFL, Merani has more than 25 years of professional experience and has been involved in the procurement, exit and execution of high-yield structured debt transactions at well-known companies. Prior to Xander, he previously worked at 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 advent of Reits (Real Estate Investment Trusts) as a new asset class, real estate offers enormous growth potential. Amar’s rich experience combined with a deep understanding of credit and equity will further enhance our real estate offering. “
Most real estate-focused non-bank financial firms, which have been a major financial lifeline for developers, have drastically reduced 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, a leader in the AIF space known for innovation. I look forward to working with the company’s talented team to develop differentiated products that are suitable for the dynamic market environment, “said Merani.
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