Clarion hires Magesh Srinivasan as senior vice president for power and energy strategy

Clarion Partners has hired former Prologis energy chief Magesh Srinivasan as senior vice president for power and energy strategy, a new role leading the firm's power-focused business line, the investment manager said Thursday. Bisnow first reported the hire.

Srinivasan is an 18-year veteran of electricity markets. He spent four years at Prologis as global head of energy markets, most recently leading energy and infrastructure strategy for the firm's logistics real estate portfolio across the U.S., Europe and Mexico. Prologis said that work included structured power transactions, energy risk management, utility-scale and distributed energy solutions, and energy infrastructure investments. Before Prologis, he spent 14 years at Southern California Edison.

He will work from Clarion's Dallas office and is responsible for developing a portfolio-wide view of power availability and infrastructure constraints. He will work across Clarion's existing leasing, development and investment teams to fold power considerations into their strategies.

Dayton Conklin, head of Clarion's industrial platform, said in a statement: "As power availability is becoming an increasingly important consideration across the industrial real estate landscape, Magesh's appointment reflects Clarion's focus on anticipating these structural changes and incorporating power considerations into investment, development and portfolio strategy."

Clarion's June white paper argued that "the convergence of long-term structural drivers and emerging cyclical tailwinds suggests the industrial sector may be approaching an inflection point, with conditions increasingly supportive of new development." The paper also named power procurement among the supply constraints complicating deals, and said experienced developers are better positioned in that environment.

U.S. industrial vacancy was flat in the third quarter at 7.1%, and construction deliveries hit an eight-year low, according to Cushman & Wakefield. Rent growth has slowed but remains positive, and absorption was up 33% year over year, with demand concentrated in modern facilities.

Clarion's September majority stake in the Stoneshield platform added living, student housing and digital infrastructure to a logistics-heavy book. The firm reported $73.7 billion in regulatory assets under management as of Oct. 3, per PRED records.