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Management changes in India's SUN Apollo

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Staff writer | Mumbai, India | April 22, 2009
Prakash KalothiaSUN Apollo Real Estate Advisors Pvt. Ltd. announced that Prakash Kalothia has been named Managing Director and the Chief Executive Officer.
Mr. Kalothia has a BA in Civil Engineering from the National Institute of Technology and an MBA in Finance from Indian School of Business, Hyderabad.

He has been responsible for the management and oversight of SUN's real estate investment business in India since 2002.

Prior to joining SUN in 2002, Mr. Kalothia worked for Lend Lease Corporation and Larsen & Toubro.

Mr. Kalothia has been an integral member of Sun-Apollo since the Fund's inception working with Chetan Dave to build the local team and manage relationships with local operating partners.

Managing Director and Chief Executive Officer, Chetan Dave, will step down from his roles and transition to the role of Senior Advisor to the Company.

Mr. Dave has more than 20 years of experience in the real estate industry.

He was formerly Chief Investment Officer with Transwestern in Houston, Texas, prior to which he was a Principal in the real estate group of J.P. Morgan Partners in New York.

In Mr. Dave's Senior Advisor role, he will remain on the Board of Directors of SUN Apollo and continue to advise the Investment Committee.

He will continue to provide advice and guidance on the Fund's portfolio of investments and its investment strategy going forward.