The leadership expansion follows a period of robust growth for the private credit platform, which concluded the second quarter with $346.9 million in assets under management. Percent CEO Prath Reddy noted that the new appointments provide senior accountability for the commercial and credit functions that institutional investors prioritize when evaluating asset managers. This strategic shift underscores the company's focus on its lower middle market lender finance business.
Percent Bolsters Executive Suite as Private Credit Assets Top $2 Billion
With platform assets under management climbing 23.9% over the past year, New York-based Percent has appointed Bina Shetty as Chief Commercial Officer and Cecil Smart as Chief Credit Officer. These additions arrive as the firm scales its managed investment business to meet increasing demand from institutional and individual credit investors.
Cecil Smart joins with over two decades of structured finance experience, including tenures at Sixth Street and Kroll Bond Rating Agency, to lead underwriting, portfolio surveillance, and credit strategy. Bina Shetty, who previously spearheaded originations at Percent, now oversees the firm's borrower and investor relations. Her career spans 25 years in investment banking, including roles at Merrill Lynch and CIBC World Markets. Beyond personnel changes, the company continues to broaden its service offerings, notably through Separately Managed Accounts and a secondary market designed to provide liquidity to credit investors. Percent’s growth trajectory was further highlighted by its climb in the 2026 Inc. 5000 rankings, where it reached the 956th spot.
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