CapitaLand Investment Limited (CLI) has appointed Sumit Gera as the Chief Executive Officer (CEO) of the India Business Park, effective May 16, 2024. This move is part of CLI’s leadership succession strategy. Gera succeeds Gauri Shankar Nagabhushanam, who has been named the CEO of CapitaLand India Trust (CLINT), Asia’s first property trust focused on India and listed in Singapore.

In his new capacity, Gera will spearhead growth endeavors aimed at expanding CLI's business park portfolio in India, a pivotal element of CLI's growth strategy in the country. Gera has been an integral part of the CapitaLand Group since March 2016, serving in various significant roles across different business units, including as head of portfolio management for CLINT and Head of CLI’s India private funds business. Before joining CLI, he played a key role in private equity real estate investments in India and Australia at Partners Group AG. Nagabhushanam will assume the position of CEO of CLINT from Sanjeev Dasgupta in August 2024 to ensure a seamless leadership transition. Meanwhile, Dasgupta will continue to oversee CLI India's operations, including business parks, logistics, and data centers.

“Our leadership appointments reflect our commitment to developing talent to drive our business growth in India, one of CLI’s core markets. Sumit has extensive experience in portfolio management and investments. He has played a key role in enhancing the performance of our assets in India, including driving sustainability initiatives which is a key focus of CLI. With Gauri’s expertise in investment, development, operations, and fund management across diversified asset classes, we are confident that he will further grow CLINT's portfolio and maximize returns for unitholders. Together as a team, we will strengthen CLI’s position as a leading real asset manager and deliver long-term value for our stakeholders”, said Dasgupta, CEO, CLI India and CEO, CLINT.

CLI, a renowned global real asset manager headquartered in Singapore, oversaw assets totaling S$134 billion and funds amounting to S$100 billion as of March 31, 2024. This was achieved through the management of six listed real estate investment trusts and business trusts, alongside over 30 private vehicles across Asia Pacific, Europe, and the USA. Its portfolio comprises a diverse array of real estate asset classes, including retail, office, lodging, business parks, industrial facilities, logistics, self-storage units, and data centers.