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Veteran Banker Joins India's Private Credit Boom
6 Jan
Summary
- Modulus Alternatives hired UBS veteran Sandeep Agarwal.
- Asia-Pacific private credit market to reach $92 billion by 2027.
- Modulus has deployed 30 billion rupees, funds yield 16-17%.
Modulus Alternatives Investment Managers has appointed Sandeep Agarwal, a former UBS Group AG executive, to spearhead its burgeoning private credit division. Agarwal, who brings nearly three decades of extensive experience in finance, joined the firm earlier this year. His prior roles include leading UBS's Mumbai operations and positions at major financial institutions like Credit Suisse and JPMorgan Chase.
The appointment signals a strategic move by Modulus amid escalating demand for expertise in the private credit sector. Projections indicate robust growth for the Asia-Pacific private credit market, with an anticipated surge to $92 billion by 2027 from $59 billion in 2024. India, Australia, Japan, and Singapore are identified as key growth drivers in the region.
Modulus Alternatives, backed by notable figures such as Jaspal Bindra and Alok Agarwal, has already made significant strides, deploying around 30 billion rupees across its credit platform. The firm's private credit funds have reportedly generated attractive returns in the range of 16-17%, underscoring the sector's potential and Modulus's strategic positioning within it.
