Trikona Capital Ltd., the leading fund management firm for institutional investment in Indian real estate and infrastructure, today announces it has expanded its management team as the firm prepares to scale its investment platforms in the country.
Trikona Capital has added six senior managers, averaging 25 years industry experience, to focus on investments and deal closings for large scale real estate and infrastructure projects in India. This brings the team to approximately 50 professionals dedicated to supporting the platform. Trikona Capital committed more than US $1.5 billion into projects in the country and intends to deploy US$10 billion across real estate and infrastructure asset classes in India over the next 5 years.
“Trikona Capital has demonstrated time and again the ability to execute across the entire investment lifecycle in this complex emerging market,” said Aashish Kalra, Co-Founder and Managing Director of Trikona Capital. “Fully invested well ahead of our original timetable and with returns of 108% from a recent sale of minority stakes in our holdings, we have proven our ability to realize value for our investors. The addition of these seasoned professionals will assist us in scaling our investment platforms and achieve continued growth and returns.”
Trikona’s London-listed fund, Trikona Trinity Capital plc (AIM:TRC), reported an increase of 82% on invested capital in the first 18 months since its admission in April 2006 and realized an increase in net asset value of 53% for the same period.
Trikona Capital recently became the first manager of a fund in this sector to realize gains by divesting part of its share holdings in several projects for more than $64 million to SachsenFonds GmbH, a subsidiary of leading German public sector bank Sachsen LB. The divestment created a gain of 108% over the holding period.
In January 2007, Trikona Trinity Capital plc (AIM: TRC) also acquired nearly 45.9 million shares in Pipavav Shipyard Ltd. (PSL), which is building the fifth largest shipyard in the world on the coast south of Mumbai. PSL later received an investment from Blackstone at more than three times Trikona TC’s per-share cost.
The expanded investment team now includes:
- Ashesh C. Shah is global head of corporate development, investor relations and UK operations for Trikona Capital and brings more than two decades in private equity, venture capital, and entrepreneurial experience.
- Chris Rode leads international strategy and partnerships at Trikona Capital. He has 23 years of real estate experience and has acted as counsel, principal, and broker in transactions totaling over $2 billion. Previously, he was Director of Development with Starwood Development Corp.
- Pravin Rathod leads capital markets and deal structuring at Trikona Capital. He brings more than 20 years of experience in investment banking, audit, tax, and financial consulting experience and has raised more than $650 million for the Indian markets.
- Sajid Malik is responsible for deal structuring and closing at Trikona Capital. He brings 12 years of investment banking and principal investment experience, most recently from Affinion Group, an Apollo Management Group companies, Lehman Brothers and Merrill Lynch and has worked on more than $20 billion of transactions.
- Umesh Luthria leads investments into Trikona’s Hospitality platform. Having owned and operated luxury hotels in India, he brings 23 years of hospitality and real estate finance and development experience.
- Rahul Malik is a senior member of the overseas business development team for Trikona Capital in India. He has more than 12 years in real estate acquisitions, development, marketing, and disposition across asset classes and has worked at firms such as DLF, Taj Asia and Pacifica Real Estate Group.
Combined with the expertise of the former CEO of Jardine Fleming asset management and head of Unit Trust of India offshore investment management, the team has experience gained from Lehman Brothers, Merrill Lynch, Prudential Securities, Starwood Capital, and ING Vysava, as well as leading Indian companies such as Unilever, ICI India, and Delhi Metro Rail Corp.
Trikona Capital is the leading fund management firm for institutional investment in Indian real estate and infrastructure assets. Trikona Capital has developed a unique and scalable platform that combines an experienced team in India, strong U.S.-based governance and investor reporting standards, and strategic partnerships with leading companies to invest in India's high growth industry sectors. Trikona’s diversified portfolio of investments span the residential, commercial, retail, infrastructure, industrial, hospitality, and urban rejuvenation sectors, creating a complete ecosystem of projects designed to capitalize on India’s surging economic and social development. With offices in New York, London, Delhi and Mumbai, Trikona also manages Trikona Trinity Capital PLC (LSE: TRC), a $500 million fund initiated in April 2006 for the Indian real estate and infrastructure sectors. For more information, go to www.trikonacapital.com.
Mike Sherrill, 212-239-8741
Ameya Sirur, +91 9987588991
Bell Pottinger Corporate & Financial
Amy Rajendran, +44 20 7861 3232
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