Modulus Alternatives has announced the appointment of Alok Agarwal, former Chief Financial Officer of Reliance Industries, as an equity partner. Agarwal is set to play a significant role in the company’s private credit investments and fundraising operations. With a current equity stake of 17.3%, Agarwal’s ownership is expected to grow in the future. Modulus Alternatives aims to raise its second fund to capitalize on the immense growth potential of the Indian private credit market, which is projected to reach $100 billion. The company, promoted by Centrum Capital, has a strong presence in the financial services sector, including investment banking, broking, and wealth management. Chandir Gidwani and Jaspal Bindra are the promoters of Centrum Capital. Agarwal’s entry into Modulus Alternatives is seen as a significant move, with Bindra stating he will run the business as a co-owner of the Alternative Investment Fund (AIF). Read more for further insights.