Karlekar is a senior managing director at Principal Real Estate, the dedicated real estate unit of Principal Global Investors. His responsibilities include helping with allocation of capital via the creation of real-estate portfolio strategies across the four quadrants of commercial real estate. He also helps disseminate our economic and real-estate views to external clients and is a member of the Principal Global Investors economic committee. Karlekar joined the industry in 2003 and Principal Real Estate Investors in 2013. Prior to his current role, he served as an executive vice-president and chief investment strategist at Cole Real Estate Investments and head of global research and strategy at ING Clarion, where he worked on creating global top-down asset allocation strategies by analysing macroeconomic and real-estate variables, and was also responsible for investment research, white papers, and new product development. Prior to ING, Karlekar was a member of the global research team at AIG Global Real Estate. He started his career as an economic analyst at The Economist Intelligence Unit. Karlekar has earned a PhD in economics from the University of Cambridge.