BlackRock has made its first senior hire in India for its private credit platform.
Based in Mumbai, Rajat Agrawal has been named managing director for the Asian private credit team.
He will develop strategies for opportunistic credit, including distressed and non-performing loans (NPLs), as well as source and assess deals in India, while providing advice for the firm’s Asian and global private credit investment platform.
Agrawal has over 24 years of experience in financial services, primarily in structuring solutions in lending and risk management for credit approval.
He joins from DBS India, where his last held role was to monitor and recover NPLs and stressed assets as an executive director in the institutional banking group.
Prior to that, he was a senior risk executive at DBS, overseeing credit, operational, market and liquidity risks.
He has also worked for the credit team of HSBC Bank and was responsible for credit approvals, managing stressed accounts, early warning and working with regulators.
At BlackRock, Agrawal will report to the head of Asian credit, Neeraj Seth.
The global fund house, which employs over 150 people globally, manages over $80 billion in client assets across credit, leveraged finance and private credit.