Mumbai: Modulus Alternatives, the ₹2,500-crore private credit fund run by Jaspal Bindra’s Centrum Group, has hired three State Bank of India veterans to lead functions such as deal origination, fundraising and governance.
Raghavendra Rao, a former deputy managing director at the bank, Narayanan Sadanandan, a former CEO of SBI Pension Funds, and Anoop Krishna, former chief general manager of the corporate group at SBI, will join the private credit fund.
Rao, who will join the investment committee of Modulus Alternatives, has more than three decades of experience across various banking roles, including credit, treasury operations, international banking, and retail banking.
Sadanandan has looked after fund management, investment banking, international banking as well as corporate, commercial, retail and MSME banking.
Krishna has more than four decades of experience where he has worked in retail and corporate banking, serving mid-sized and large corporate groups.
Modulus Alternatives was founded in 2018 and is one of the early movers in the Indian private credit space.
To date, the platform has an invested capital of ₹2,306 crore. Fund I has delivered mid-teen yields since inception, and has returned more than ₹1,050 crore to its investors. Across Fund I and II, it has made 19 investments and has exited 11 of them.
