Nagabhushanam will succeed Vinamra Srivastava, who will relocate to Singapore to take on a new role within the CapitaLand Group.

A former chief investment officer and chief financial officer of Ascendas-Firstspace, CLI’s logistics business in India, Nagabhushanam will be based in Bangalore, the headquarters of CLI’s business parks business in India. He will oversee CLI’s operations, investments, development, asset management and private fund management across business parks in India, as well as the growth of its portfolio of assets in the country.

“India is a key market for CapitaLand Investment, and has significant expansion potential as part of our growth strategy to position the company as one of the world’s leading managers of real estate investments. Gauri Shankar has been with the company for over 10 years and has played a key role in launching and expanding our logistics business in India. He also brings extensive experience in real estate investment and private equity fund management as well as corporate finance. We are confident that Gauri Shankar will continue the momentum leading a talented team through the next phase of the company’s growth and delivering value to our stakeholders,” said Jonathan Yap, CEO of Fund Management, who also oversees CLI’s operations in India.

CLI is present in India across the entire real estate value chain, from owning, developing and managing properties to managing funds through Ascendas India Trust (a-iTrust) and private funds. In India, it has a portfolio of over 20 business and IT, industrial, accommodation, logistics parks, as well as a data center campus in seven cities. Around 80% of its portfolio is under a-iTrust and three private funds – Ascendas India Growth Programme, Ascendas India Logistics Program and CapitaLand India Logistics Fund II, and 20% is under its balance sheet.

CLI currently has over 20 million square feet of assets under management (AUM) valued at approximately S$3.3 billion. In October 2019, CapitaLand announced its target to more than double its assets under management in India to S$7 billion by 2024.