IIFL Wealth and Asset Management (IIFL WAM) has announced the appointment of Aakash Desai as the Head of Private Credit, IIFL Asset Management (IIFL AMC). In this role, Aakash will spearhead the Private Credit practice, and will be responsible for identifying growth opportunities to augment scale and profitability in the business.
Aakash Desai brings significant experience in corporate finance and capital markets, predominantly in originating and structuring credit solutions to clients. Prior to joining IIFL AMC, Aakash Desai has built and led businesses for 20+ years in Clix Capital (erstwhile GE Capital), Standard Chartered Bank and ICICI Bank, India & ICICI Bank, UK. Aakash is an alumnus of Narsee Monjee Institute of Management Studies, Mumbai.
Karan Bhagat, Founder, MD & CEO, IIFL Wealth and Asset Management, commenting on the appointment said, “We are delighted to have Aakash on board. His extensive knowledge and experience will complement and strengthen our private credit vertical in delivering value to all our stakeholders. 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.”
Aakash Desai, Head, Private Credit, IIFL AMC, said, “IIFL AMC is a leader in the alternatives space. I strongly believe the alternative asset management segment in India will witness stellar growth and IIFL AMC is very well positioned to capture this massive opportunity. I am excited to join the group and build a leading and innovative private credit platform with the dynamic team here. IIFL WAM’s strong metrics, long-standing investor confidence, and technological backbone will provide added advantage as we make deeper inroads into the multibillion-dollar credit market.”