Modulus Alternatives Investment Managers Limited has appointed Sandeep Agarwal as its new Chief Executive Officer, effective January 2026. Agarwal, who previously served as head of UBS AG’s Mumbai branch, will oversee business operations and investment strategy for the private credit platform.

Prior to this appointment, Agarwal held senior positions at Credit Suisse, including Head of Credit Suisse AG Mumbai Branch and Head of India Fixed Income. His extensive banking experience and deep expertise in India’s fixed income markets position him to lead Modulus through its next phase of expansion.

Modulus Alternatives is an established private credit asset manager operating two Category II Alternative Investment Funds. Since its founding in 2018, the platform has deployed over ₹2,380 crore across 20 investments, successfully exited 13 deals, and returned more than ₹1,350 crore to investors. Fund I has consistently delivered mid-teen returns since inception, with regular quarterly distributions to investors.

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The firm has earned recognition in India’s private credit space, ranking fourth by number of completed deals in FY24 according to the Reorg Report, which evaluates Indian private credit asset managers across various performance metrics.

Agarwal’s appointment arrives at a strategic juncture as Modulus continues expanding its market presence and developing innovative product offerings in India’s growing private credit sector. His leadership is expected to strengthen the platform’s capabilities in capital protection and active fund management while delivering attractive risk-adjusted returns to investors.

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