Trikona Capital has appointed the former chairman of India’s housing and urban development corporation to lead its real estate and infrastructure projects.
Just one month after expanding its management team, Trikona said it had appointed Dr. P S Rana, who served for 16 years in the Indian government’s housing arm (HUDCO). He recently retired as chairman.
Trikona said in a statement, Rana would help the fund manager increase its investment platforms across the country, with co-founder and managing director Aashish Kalra adding: “Success in India requires a dedication to manage and execute projects end-to-end.
“Dr Rana has proven a deep understanding of the issues that India faces as it continues to urbanize and develop economically, and he will be a valued member of our team as we scale our investment platforms in India.”
Just last month, Trikona announced the appointment of six senior managers to take its team up to 50 members. The new appointments included Ashesh Shah, global head of corporate development, investor relations and UK operations; Chris Rode, leading international strategy and partnerships; Pravin Rathod, leading capital markets and deal structuring and Sajid Malik, responsible for deal structuring and closing.
As a former chairman of HUDCO, established in 1970 by the Indian government to provide assistance for urban development, infrastructure and home construction projects, Rana said he was keen to help continue India’s economic development. “As India continues to evolve and grow its middle class, the country will need new integrated townships, critical infrastructure improvements and sensible urban redevelopment,” he said. Rana, who studied for his PhD at Newcastle University, in the UK, and previously worked the Delhi Transportation Corporation and advisory body, the Town & Country Planning Organization.