Citi promotes India head to lead Asia real estate platform

Citi Property Investors, which is headquartered in New York, has promoted its India head, Ravi Hansoty, to lead its Asian platform on an interim basis. According to those close to the matter, Hansoty is expected to land the position full time by the end of the year.

Citi Property Investors (CPI) has appointed its India head, Ravi Hansoty, to lead its pan-Asian real estate platform following the departure of former Asia head David Schaefer.

Hansoty joined CPI in 2005 to manage the firm’s investments in India. He has more than 14 years experience in real estate having previously worked for Morgan Stanley and Chicago based developer, The John Buck Company.

It is understood that Hansoty, who was originally hired by Schaefer, has been appointed on a temporary basis but is expected to be given the job on a permanent basis at the end of the year.

Schaefer left CPI at the beginning of the month. At the time of writing, he was not thought to have taken on another position.

CPI currently manages the CPI Capital Partners Asia Pacific fund, which closed on $1.29 billion in equity in February 2007. The fund is understood to have committed nearly all of its capital.

The Asia platform is part of a global business run by president and chief executive officer Roger Orf. The firm currently has $14.3 billion in gross assets under management across Europe, the US and Asia.