Blackstone Appoints Apurva Shah to Lead India Credit Division

On October 8, 2025, global investment firm Blackstone announced the launch of its India credit platform, appointing seasoned finance expert Apurva Shah as Managing Director to lead private credit origination operations in the country. This move marks a significant expansion of Blackstone’s global credit business into one of its fastest-growing markets—India.

About the Appointment

• Apurva Shah, now based in Mumbai, brings over 26 years of experience in finance, including roles at Deutsche Bank, Citigroup, DSP Merrill Lynch, and Dresdner Kleinwort Benson.
• He will lead Blackstone’s India efforts under the Blackstone Credit & Insurance (BXCI) vertical and report directly to Mark Glengarry, Head of Asia Pacific Private Credit Strategies.

Shah’s role will include building relationships with Indian borrowers, identifying lending opportunities, and expanding Blackstone’s footprint in the alternative credit space.

Strategic Importance of the Move

This development reflects Blackstone’s long-term commitment to India, where it has,

• Over $50 billion in assets under management
• Two decades of investment experience
• A strong presence in private equity, real estate, and now private credit

According to Glengarry, “Expanding into private credit in India is a natural evolution. We’re excited to finance the next phase of growth for Indian businesses and the broader economy.”

About Blackstone Credit & Insurance (BXCI)

BXCI is the world’s largest third-party credit platform, managing $484 billion in assets. It offers,

• Direct lending
• Leveraged finance
• Real estate-backed loans
• Investment-grade private credit
• Asset-based finance

With this India expansion, BXCI now strengthens its regional network, which already includes strong teams in Japan, Australia, Singapore, and Hong Kong.

Static Facts and Takeaways

• Event: Blackstone launches private credit business in India
• Date: October 8, 2025
• New Appointee: Apurva Shah, Managing Director
• Location: Mumbai, India
• Reports To: Mark Glengarry, Head of APAC Private Credit, BXCI
• Assets Managed by BXCI: $484 billion
• Blackstone’s AUM in India: $50 billion+