Citi Hires Aashish Dhakad to Lead Private Credit

Aashish Dhakad received the position of North America private credit origination head at Citigroup through an internal company announcement. The October arrival of Dhakad brings more than twenty years of experience to his new role after working at Ares Management.
Private credit loans from non-bank lenders to high-risk borrowers have experienced rapid expansion as banks form partnerships with private firms to acquire deals through external balance sheet management.
Citi expanded its private credit operations through a $25 billion private credit program established with Apollo Global during the previous year. Dhakad worked at Bank of America for ten years before joining the company and will operate from New York. The bank identifies increasing potential for direct lending activities that extend past acquisition financing through investment-grade corporate loans and asset-backed deals.