Morgan Stanley India  has appointed Naresh Naik as Executive Director and head of asset management of its real estate subsidiary. Naik will join in his new role later this month.

Prior to this, Naik was heading the asset management business of Lehman Brothers India as Vice President. There he led Lehman's entry into real estate investing in India in the real estate private equity group.

Before 2006, Naik was a portfolio manager with Liberty Street (a subsidiary of Trimont Real Estate Advisors), based in Atlanta, US, where he worked for many years in various capacities across the LBREP (Lehman Brothers Real Estate Partners) I and II North American and Indian portfolios.

Morgan Stanley has invested more than $750 million in Indian property since 2006 through its real estate funds, with a focus on acquiring stakes in high quality local developers and real estate projects.

While Indian Real Estate is reeling under higher interest rates and tighter funding, the firm is currently in market with a $12 billion global vehicle, MSREF VII International. Some of its major investments include $152 million in 2007 in Oberoi Constructions, $65 million in Delhi-based residential and commercial developer Alpha G Corp, and $68 million Bangalore-based Mantri Developers.

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