Citi Property Investors (CPI) has promoted its India head, Ravi Hansoty as the head of its pan-Asian real estate platform. Hansoty replaces the former Asia head, David Schaefer, who moved out of CPI early this month.
Hansoty had been originally appointed by Schaefer and is learnt to have been promoted on a temporary basis and expected to be permanently appointed at the position by the end of the year.
Hansoty has been with CPI since 2005 and had been initially hired to manage the firm’s investments in India. He has an experience of over 14 years in real estate. He has previously worked with Morgan Stanley Properties in Seoul and The John Buck Company, a Chicago based developer.
CPI currently manages the CPI Capital Partners Asia Pacific fund, which closed on $1.29 billion in equity in February 2007. The reports suggest that the fund has committed nearly all of its capital.
The Asia platform is a part of the global business run by president and CEO Roger Orf. The firm currently has assets worth $14.3 billion under management across Europe, US and Asia.