APREA Webinar: Opportunities amidst COVID-19 gloom for the warehousing sector in India

Sigrid is the Chief Executive Officer of Asia Pacific Real Assets Association (APREA). Based in Singapore, she is responsible for overseeing the strategic direction, initiatives and operations of the association across Asia Pacific. Under her leadership, APREA repositioned to an industry trade group focusing on real estate and infrastructure.

Sigrid joined APREA’s executive team in January 2019.

Prior to APREA, she served as Managing Director of Asia Pacific Research and Advisory Services of Cushman & Wakefield (C&W) from 2010 through 2018, where she was responsible for research, thought leadership, strategy formulation and client management.  Before relocating to Singapore, she was based in Washington, D.C. and led C&W’s U.S. research group in the Mid-Atlantic region, overseeing all aspects of market research activities in the Washington, DC; Virginia; Suburban Maryland, Baltimore; and Philadelphia areas. Prior to joining C&W, Sigrid served as a Senior Economist for the National Association of Realtors (NAR). In that position, she developed NAR’s office, warehouse, retail, multi-family housing, and international research programs.

A recognized expert in global economic, public policy and real estate issues, Sigrid is a frequent speaker at industry events.  Her commentary on commercial and residential real estate markets is also regularly featured in a wide array of global publications, including the Wall Street Journal, Financial Times, Bloomberg, New York Times and Reuters. Additionally, she has made several television appearances on financial networks and radio such as CNBC, Bloomberg, CNN, National Public Radio and Channel News Asia.

Sigrid holds a Master of Business Administration from Cornell University’s Johnson Graduate School of Management and a Master’s degree in Economics from Pennsylvania State University. She is a member of several civic groups including the Rotary Club of Raffles City in Singapore, where she has served in various leadership positions, and serves in the Executive Committee of the Crohn’s & Colitis Society of Singapore.

Background

• Gaurav Karnik is Partner with Ernst & Young tax practice in India and is the National Leader for Real Estate sector for EY India and National Leader for Sovereign Wealth Funds and Pension Funds for EY India
• Gaurav joined Ernst & Young in 2002 and is based in Gurgaon.
• He is a Chartered Accountant from Institute of Chartered Accountants of India and also holds a Bachelors degree in Economics from Delhi University
• Fluent in English, Hindi and Marathi

Skills

• Gaurav has more than 20 years of experience in the field of taxation, regulatory matters, and international taxation.
• Handling international taxation issues including,permanent establishment issues and other regulatory issues
• Handling Inbound and Outbound tax advisory related issues and Transaction tax related advisory issues

Professional Experience

• Advised several US, UK, Singapore based real estate and infrastructure focused private equity funds in structuring their India centric real estate an d infrastructure funds and their specific investments in Indian companies
• Advised several foreign real estate developers with their India real estate strategy and transactions.
• Advised global hospitality chains in establishing presence in India and tax litigation
• Advised global mall developers on their India real estate strategy and restructuring
• Advised developers and funds on potential REIT strategy
• Advising multinational companies on entry strategy, restructuring and setting up offshore tax efficient vehicles
• Advising on regulatory issues in establishing and doing business in India
• Actively involved in inbound and outbound structuring for clients engaged in the automotive, diversified industrial products, infrastructure, real estate companies
• Assisted number of multinational company on their tax disputes with Indian Revenue authorities
• Advising on international tax issues including permanent establishment issues in India
• Assisted various funds with tax due diligence in India
• Assisted domestic companies in outbound investments and group restructuring
• Assisted real estate industry associations such as APREA, FICCI etc with representation REIT, GST to the Ministry of Finance and SEBI
   

Tel +91 (0)12 4464 4032
Mobile +91 (0)98 11214668
Fax +91 (0)12 4464 4050
Email gaurav.karnik@in.ey.com 

Shridhar N. is the CEO – Real Estate & Infrastructure at the Hiranandani Group. He was the originator of the largest Private REIT deal in Indian real estate valued at over $1 billion for Hiranandani Powai’s 4 mn. sq. ft. commercial assets which were sold to Brookfield as a part of the monetization strategy for the group.

He also incubated and created a Pan India platform ‘GREENBASE’ for the Industrial & Logistics infrastructure business, a major diversification strategy of the Hiranandani Group, and runs the business as a joint venture with Blackstone as a partner. He is operationally heading the platform which offers industrial units and warehousing infrastructure with a presence in various locations across the country.

Along with his vast experience spanning over 30 years across real estate, infrastructure, financial services and FMCG, Shridhar has also been mentoring startups and founders for many years. He has been the CFO of various large companies including Future Capital Holdings Ltd., Britannia Industries Ltd and Coca Cola India. His experience spans across various facets of business strategy & finance including M & A, treasury, and restructuring business models for efficiency.

He is also the Founder and Managing Partner at Pegasus FinInvest Advisory Services Ltd. He is the Sponsor of “Pegasus India Evolving Opportunities Fund” a SEBI registered Social Impact fund, having a fund size of $20 million. This impact fund focuses on key sectors such as Edu-tech, Fin-tech, Health-tech, and Renewables.

He is actively involved in C&I segment of Solar development and installations through group captive structure to fulfill the responsibility that we must build an environmentally stable ecosystem and reduce our carbon footprint. The vision is to build renewable energy assets over a period of 3-5 years and deliver sustainable solar power to the end users while generating healthy returns.

With a keen understanding and deep knowledge of key industries, market changes and market needs, he has in leadership roles directed the strategy and business model of companies towards profitable growth that successfully facilitate this transition to realize maximum business value.

He is active and well networked with HNI’s in Mumbai, Delhi, Hyderabad and Bangalore. He is an accredited member of the Director’s club, a program certification from KPMG, Board Evaluation committee, UK and SP Jain essentially as an Independent Director. He has vast experience in leadership roles, raising capital, pivoting business models, taking companies public, setting up investment companies and enhancing operational effectiveness and efficiencies.

He has excellent networking and relationships with Merchant Bankers, Local and International lawyers, Regulatory Agencies, Accounting and Auditing firms and Banks and Institutions cultivated over his senior leadership stint of over 30 years.

Chanakya (Chan) Chakravarti, based in Mumbai, is responsible for implementing the investment and asset-management activities for the firm’s indirect investment strategies in the Asia-Pacific region, assisted by a team, locally. He collaborates with internal and external stakeholders to implement and consolidate the firm's indirect investments in the region through commitments into discretionary funds, co-investments alongside strategic partners and public market instruments.

Mr. Chakravarti is a seasoned manager with more than 29 years of experience, including over 23 years in real estate investment, and development in South Asia and sub-Saharan Africa. Before joining Ivanhoé Cambridge in 2017, he was a Managing Director, Global Alternatives, Asia, at J.P. Morgan Chase. From 2007 to 2011, he worked for Actis Capital LLP, first as Managing Director, India Real Estate and then as Chief Executive Officer of BlueLife Ltd. in Mauritius, an Actis portfolio company. Before that, he was Joint Managing Director and Country Manager at Cushman & Wakefield South Asia for eight years.  

Mr. Chakravarti holds a bachelor's degree with a major in accounting and economics from the University of Mumbai. He speaks English and Hindi, fluently.