Companies

Blackstone appoints Dalip Sehgal as Nexus Malls CEO

Our Bureau Mumbai | Updated on March 08, 2018 Published on March 08, 2018

Global PE major Blackstone Group has appointed Dalip Sehgal as Chief Executive Officer of its fully-owned subsidiary, Nexus Malls.

Sehgal joins Nexus Malls from Graviss Group, where he served as Managing Director. He would be responsible for overall operations of all the assets of Nexus and drive expansion across geographies.

“We are committed to grow our retail portfolio and bring in the best management talent to provide high quality experience for both our customers and retail partners. Dalip is a seasoned professional with over 35 years of consumer facing experience and I have full confidence in him to scale up our management and portfolio,” said Tuhin Parikh, Senior MD, Blackstone.

Nexus Malls is a fully-owned subsidiary of world’s leading investment firm Blackstone Group.

Through this entity, Blackstone Group marks its foray into India’s retailing sector with an aim to transforming the shopping experience of the Indian consumers. The new entity will own and manage shopping centres with a focus on identifying, evaluating, buying and adding value to the assets that they acquire in the country.

Eyeing future acquisitions

Nexus Malls have already acquired and is in the process of completing the transformation for the AlphaOne Malls in Ahmedabad and Amritsar and are also in advanced stages of discussion with several other developers for potential acquisitions in the near future. Nexus also acquired Seawoods Grand Central in Navi Mumbai which is India’s first Transit Oriented Development.

Sehgal’s experience has seen him spend 25 years with the Anglo-Dutch multinational, Unilever. He is also on the board of several companies.

An investor and mentor to start-ups, Sehgal is an Economics graduate from the University of Delhi and an MBA from FMS, Delhi.

Published on March 08, 2018

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