Blackstone has appointed Deutsche Bank veteran Apurva Shah to a senior role in its private credit and insurance business in India, marking the firm’s first dedicated hire for credit in the country, according to a report by Bloomberg.
Shah will report to Mark Glengarry, head of Asia Pacific private credit strategies at Blackstone Credit & Insurance (BXCI), as the alternative asset manager seeks to tap into India’s growing demand for private credit.
Shah brings over 26 years of experience in leveraged finance, securitisations, M&A advisory, and capital markets, including two decades in senior roles at Deutsche Bank and earlier positions at Citigroup.
The move comes as Blackstone’s BXCI team has expanded significantly in Asia over the past three years, now operating in Hong Kong, Japan, Australia, and Singapore, and managing $484bn in assets—a threefold increase since 2020.
India’s private credit market continues to be dominated by global funds, which accounted for 68% of the $9bn in private credit deals completed in the first half of 2025, according to industry reports.
