Paisa Vaisa with Anupam Gupta The Flexibility in Repayment That Banks Quietly Killed Years Ago | Paisa Vaisa
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Apr 13, 2026 Shantanu Sahai, Executive Director and Head of Private Credit at ASK Alternates with 25 years of global credit experience. He breaks down private credit’s bespoke loan structures versus bank loans. Short, punchy takes on returns ranging from low teens to 30%, investor suitability, sector winners in India, AIF mechanics, NAV behavior, and what can go wrong when deals break down.
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Bespoke Loan Analogy From Mushrooms To Flight Simulators
- Shantanu compares private credit to bespoke furniture: each client needs a custom solution across sectors and company sizes.
- He notes transactions ranged from 35 crore EBITDA companies to 3,500 crore EBITDA and sectors from mushrooms to flight simulators.
Private Credit Is Bespoke Debt Not Just Risky Loans
- Private credit is bespoke debt financing for borrowers banks or NBFCs won't or can't serve.
- Shantanu Sahai explains structures vary by tenor collateral payment profile and are tailored to avoid equity dilution for the borrower.
Choose Risk Appetite Before Chasing Yield
- Decide your risk appetite before chasing a return target when considering private credit.
- Shantanu says strategies span low-teens to ~30% returns so match sub-strategy (performing, venture, distressed) to how much loss you can tolerate.
