Private credit, a prominent asset class worldwide, involves direct lending from investors like pension funds to companies. The global stock of loans in this category has been rapidly growing and currently stands at a staggering $1.5 trillion, according to financial data provider Preqin Ltd.
Image-: Institute for New Economic Learning.
ASK Group is reportedly planning to raise a substantial sum of 10 billion rupees ($122 million) for its inaugural private credit fund, as revealed by individuals familiar with the matter. These insiders also disclosed that Shantanu Sahai, the former head of debt at Nomura Holdings, has been appointed as the senior managing partner to lead the expansion of ASK Group’s business in this particular segment. Sahai, who had served for seven years at the Japanese bank, resigned from his position as Nomura’s India head of debt.
It is worth noting that the precise amount of money to be raised has not been definitively determined and remains subject to potential alterations, as confirmed by an undisclosed source.
Private credit, a prominent asset class worldwide, involves direct lending from investors like pension funds to companies. The global stock of loans in this category has been rapidly growing and currently stands at a staggering $1.5 trillion, according to financial data provider Preqin Ltd. These loans typically entail floating interest rates, enabling investors to earn higher returns as interest rates increase. In India, private credit activity has witnessed a notable uptick. The allure of this market stems from restrictions on bank lending, particularly for funding mergers and acquisitions.
The ASK Group’s website sheds light on its subsidiary, ASK Private Wealth (ASK WA), which was established in 2007. Recognized as a reputable independent Wealth Advisory and Family Office firm, ASK WA is registered under SEBI‘s (Investment Advisers) Regulations, 2013. The firm specializes in delivering wealth management solutions tailored to meet individuals’ financial aspirations.
