Blackstone Real Estate elevates Tuhin Parikh to Asia Vice Chairman, Asheesh Mohta to India head

MUMBAI: Blackstone Real Estate has made leadership changes in its Asia-Pacific business, elevating two of its long-serving India executives to more senior roles as the global investment firm deepens its presence in the region.

Tuhin Parikh, who has been with Blackstone for nearly two decades, will take on the newly created role of Vice Chairman of Real Estate Asia and Executive Chairman of Real Estate India. Asheesh Mohta, who has led acquisitions for Blackstone Real Estate in India, will step into Tuhin’s role of Head of Real Estate India.

In his expanded mandate, Parikh will continue to report to Chris Heady, Chairman of APAC and Head of Real Estate Asia. Mohta will now oversee the investment giant’s real estate platform in the country and report to Parikh.

These appointments are part of broader changes to our APAC Real Estate business, which under Chris’ leadership over the last 20 years has become one of the largest and most significant platforms of its kind in the region, including in India, Blackstone said in a release.

Blackstone is one of the largest foreign investors in India, with over $50 billion of assets under management in the country since its entry, of which nearly $20 billion has been deployed into real estate. Under Parikh and Mohta’s leadership, the firm has built a diversified portfolio across commercial, retail, logistics, hospitality, data centres, and residential.

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It is the largest owner of office assets in India, the biggest retail mall operator through Nexus Select, and has the largest warehousing footprint under Horizon Industrial Parks. It also owns hotels through Ventive Hospitality and has invested in data centres via the Lumina CloudInfra platform.In addition, Blackstone has played a pioneering role in India’s capital markets by launching five real estate IPOs, including four REITs. It was instrumental in bringing India’s first listed REIT to market and most recently backed Knowledge Realty Trust, which saw strong investor demand with a 13-times subscription.With these leadership changes, Blackstone aims to further consolidate its position in India, which has become a core market for its global real estate business. Both Parikh and Mohta have been credited with shaping the firm’s strategy in India and helping it emerge as one of the most influential players in the country’s property sector.
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