Clarion hires Karlekar to head global research and strategy

New York-based manager Clarion Partners last week hired Indraneel “Indy” Karlekar as managing director and global head of research and strategy.

The industry veteran joined from Des Moines, Iowa-based manager Principal Asset Management, where he spent 10 years as a senior managing director and the firm’s global head of research and portfolio strategies. His move to Clarion as a member of its senior leadership team is a homecoming of sorts, as Karlekar noted in a LinkedIn post regarding his move.

Karlekar previously worked in senior roles for ING Clarion Real Estate Securities from 2003 to 2011, including global head of research and strategy from 2007 to 2011, per his LinkedIn profile. He brings additional experience from New York-based insurer and manager AIG and Phoenix-based manager Cole Capital.

Karlekar will work in Clarion’s Los Angeles office and take up responsibilities for overseeing the firm’s investment research in developing portfolio strategy, leveraging data analytics and supporting capital raising and client service.

“We are proud to welcome Indy back to the Clarion team,” said Clarion chief investment officer Jeb Belford. “He has been a respected leader in research for decades, and we look forward to leveraging his extensive expertise as we continually work to identify growth opportunities and evolve our firm’s investment strategies.”

Clarion has remained an active commercial real estate investor and lender through the elevated interest rate environment, data from Real Estate Capital USA’s Lending Data Snapshot shows. In October 2023, the firm partnered with Los Angeles-based investor and developer LaTerra Development on a $90 million refinancing originated by New Jersey-based PGIM Real Estate for The Louise, a newly built, mixed-use property in Los Angeles.