Indiabulls appoints Ambar Maheshwari as CEO realty fund business

Prior to this, Maheshwari held key positions in DTZ, KPMG, Ambit Corporate Finance and Infrastructure Leasing & Financial Services

Indiabulls Asset Management, part of Indiabulls group, today said it has appointed Ambar Maheshwari, as chief executive officer of its alternate investment funds business which it is setting up.

The AIF team will invest in real estate. Maheshwari was managing director of corporate finance at realty consultant Jones Lang LaSalle. Prior to this, he held key positions in companies such as DTZ, KPMG, Ambit Corporate Finance and Infrastructure Leasing & Financial Services.

Indiabulls's fund will invest primarily in debt securities through listed non-convertible debentures of developers undertaking residential projects in top 7 property markets of the country.

Indiabulls Housing Finance will be the sponsor of the fund. Indiabulls Real Estate Fund will invest in secured debt of these developers.