Aditya Birla realty fund CEO Maneesh Yadav quits after 2 years at the helm

Maneesh Yadav, chief executive officer (CEO) of Aditya Birla Real Estate Fund, has put in papers after being at the helm for about two years, said sources in the know.

Yadav is believed to be joining a large fund manager, sources said. “Currently, Yadav is serving his notice period. They are looking for a new CEO,” sources said. The reason for Yadav's exit is not known. This is the second exit in the fund manager after earlier CEO Apurva Muthalia quit and joined the Indian arm of Chinese company Fosun International as its head in late 2016.

A mail sent to Aditya Birla Capital did not elicit any response. Yadav could not be contacted for comments.

Yadav has spent over a decade in Adiya Birla Capital and he was the head for mortgage and real estate business at the firm before becoming the CEO of the real estate fund.

According to sources, currently, Aditya Birla Real Estate Fund is raising a $100 million fund and has raised $20 million and got a commitment for another $20 million, sources said. 

The fund manager has been deployed in projects of Shriram Properties and Assetz group, said sources. Its first fund raised $200 million and the fund manager has already returned 55-60 per cent of that, said sources.