IDFC starts private equity real estate fund
Infrastructure Development Finance Company Ltd (IDFC), India’s leading infrastructure finance services firm, is to expand its alternative investment capabilities to operate a private equity real estate business, hiring a new senior executive to run the arm.
As part of the initiative, the firm has hired Chetan Dave, former MD and CEO of Sun Apollo Real Estate Advisors, a real estate private equity fund in India, as president and CEO for its new Real Estate Investment vehicle. He will also serve on IDFC's management committee. With 19 years of experience, Dave has held several key positions, including CIO of Houston-based Transwestern Commercial Services LLC, a privately held national commercial real estate firm in the US, and as a private equity and real estate investment lead with JPMorgan Partners in the US. Rajiv Lall, MD and CEO of IDFC, said publicly, "Chetan brings a wealth of experience, and an impressive track record in the sector. He is ideally placed to drive our efforts in building and leading our real estate investments business."
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