Mumbai, 14 July 2026 – BlackRock’s drive to expand its private-credit business across Asia is facing another test in India as a proposed investment in a high-yield refinancing transaction encounters renewed complexity, highlighting the risks global asset managers must navigate when deploying capital in the region.

The transaction centres on a major fundraising exercise by India’s Shapoorji Pallonji Group, which is seeking to refinance existing obligations through a combination of dollar- and rupee-denominated debt.

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Bernard Lee

Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.