MSREI hires India head Godbole

Morgan Stanley Real Estate Investing has moved quickly to replace Naresh Naik who quit as India country head at the $43 billion platform last month.

Morgan Stanley Real Estate Investing (MSREI) has appointed its former Europe chief financial officer Shirish Godbole as its head of India, starting yesterday.

The firm announced his appointment just weeks after former India head Naresh Naik resigned to launch his own India-based fund management platform.

MSREI’s Asia head Hoke Slaughter said Godbole’s hire underlined the continued significance of India in MSREI’s ongoing investing strategy.

He said: “India has been a major market within our Asia real estate investing platform for over six years and is a country where we continue to see significant investment opportunities.”

MSREI has invested in India since 2006 in both property companies and directly across the country. The firm has made entity level investments in companies including Oberoi Realty, Panchshil Realty, Mantri Developers among others.

“We are delighted to have Shirish back with the team to lead MSREI India. His global and local experience will be invaluable as we continue to grow the business here and across the region,” Slaughter added.

Godbole joined Morgan Stanley in 1994 when he worked for its securitised products group in New York before moving to London to become MSREI’s chief financial officer. He left for India in 2007 to join Goldman Sachs Real Estate Principal Investment Area (REPIA) before leaving in 2009 to form his own India-focused real estate asset management business, Tricone Advisory & Consulting.

MSREI has of late shifted its focus from making US investments to making Asia and Europe investments on behalf of its latest global opportunity fund, the $4.7 billion Morgan Stanley Real Estate Investing VII Global. Indeed, to underline its strategy in Asia, it has relocated its co-chief executive officer and co-chief investment officer, Olivier de Poulpiquet to help lead its efforts in the region.