IIFL AMC appoints Aakash Desai as head of private credit
Premium- Desai will spearhead the private credit practice, and will be responsible for identifying growth opportunities to augment scale and profitability in the business
MUMBAI: IIFL Wealth and Asset Management on Tuesday announced the appointment of Aakash Desai as head of private credit at IIFL Asset Management.
In this role, Desai will spearhead the private credit practice, and will be responsible for identifying growth opportunities to augment scale and profitability in the business, it said.
The company said Desai brings significant experience in corporate finance and capital markets, predominantly in originating and structuring credit solutions to clients. Prior to joining IIFL AMC, Desai has built and led businesses for over 20 years in Clix Capital (erstwhile GE Capital), Standard Chartered Bank and ICICI Bank, India and ICICI Bank, UK.
Karan Bhagat, founder, managing director and chief executive, IIFL Wealth and Asset Management, said, “Aakash will play a key role in developing and managing investments in both IIFL AMC’s existing and proposed credit funds. We are certain that his demonstrated ability to manage the complete credit lifecycle will be a huge asset in this exciting business."
Desai said in a statement that he strongly believes the alternative asset management segment in India will witness stellar growth and IIFL AMC is very well positioned to capture this massive opportunity.
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“I am excited to join the group and build a leading and innovative private credit platform with the dynamic team here," he said.
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