Blackstone Real Estate has announced senior leadership changes in India, elevating two long-time executives. On September 4, the global investment firm said Tuhin Parikh will take on the newly created role of Vice Chairman of Real Estate Asia and Executive Chairman of Real Estate India, while Asheesh Mohta will succeed him as Head of Real Estate India after serving as Head of Real Estate Acquisitions India, it said in a note.

“The elevation is part of broader changes to our APAC Real Estate business, which under Chris’ leadership over the last 20 years has become one of the largest, most significant platforms of its kind in the region, including In India,” it said.

Tuhin will continue to report to Chris Heady, Chairman of APAC and Head of Real Estate Asia and Asheesh will report to Tuhin, the company said.

The company’s note said Blackstone under the leadership of Tuhin and Asheesh has helped launch 5 RE IPOs in India (4 REITs including the first and most recently, Knowledge Realty Trust, 13x subscription).

Blackstone is among the largest investors in India, managing over $50 billion in assets since inception, including $20 billion in real estate. It has emerged as one of the most significant foreign real estate investors in the country across all asset categories.