About Parag Kothari
Parag Kothari is a private-credit investment professional with more than 25 years of experience in financial services, with a career spanning wholesale lending, corporate finance, investment banking and performing credit. He currently serves as Fund Manager – Performing Credit at EAAA India Alternatives, where he heads the ESOF Strategy (Edelweiss Special Opportunities Fund) under the Private Debt business. EAAA identifies him as part of its Performing Credit investment team.
His career combines operating experience in corporate lending with fund-level investment management. Before joining Edelweiss, Kothari spent more than 14 years in wholesale lending at Cholamandalam Finance, where he served as Business Head – Corporate Finance. He subsequently worked as Executive Vice-President and Head – Investment Banking at Dhanlaxmi Bank.
At EAAA, his focus is on performing credit — an area of private debt where investment decisions involve assessing the financial strength of businesses, structuring credit solutions and monitoring investments through their lifecycle. His experience in corporate lending provides a background in evaluating businesses not only from an investment perspective but also from the standpoint of credit structure, repayment capacity and downside protection.
Kothari has also been associated with Edelweiss for more than a decade. EAAA states that he has been part of the complete lifecycle of the first ESOF fund, linking his current role with the development and management of the special opportunities strategy.
Parag Kothari’s Education and Qualifications
Parag Kothari's academic background combines engineering with financial management.
| Qualification | Institution |
| Master’s in Financial Management / MBA | Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai |
| Bachelor’s Degree in Engineering / Machine Tool Engineering | K. J. Somaiya College of Engineering, Mumbai |
EAAA states that Kothari holds an MBA from JBIMS, Mumbai, along with a bachelor's degree in engineering from the University of Mumbai. Corporate disclosures provide more specific details, identifying his engineering qualification as a bachelor's degree in machine tool engineering from K. J. Somaiya College of Engineering and his postgraduate qualification as a master's degree in financial management from JBIMS, University of Mumbai.
The combination is relevant to his career in credit and corporate finance. Engineering provides a technical foundation for understanding businesses and assets, while financial management training is directly applicable to corporate lending, investment banking, transaction structuring and investment analysis.
Parag Kothari’s Career in Corporate Lending and Investment Banking
A significant part of Parag Kothari's career was built in wholesale lending before he moved into alternative investment management.
Cholamandalam Finance
Kothari spent more than 14 years with Cholamandalam Finance, where he worked in wholesale lending and served as Business Head – Corporate Finance. EAAA identifies this as one of his principal professional experiences before joining Edelweiss.
Corporate finance and wholesale lending involve evaluating companies and financing requirements at a scale beyond conventional retail lending. This typically requires analysis of cash flows, leverage, business fundamentals, collateral, repayment sources and the structure of proposed financing.
His long tenure in this segment gave him exposure to corporate borrowers and financing situations before his transition into private-credit fund management.
Dhanlaxmi Bank
Kothari subsequently joined Dhanlaxmi Bank, where he served as Executive Vice-President and Head – Investment Banking.
The investment-banking role added another dimension to his experience, particularly around corporate transactions and financial structuring. His career therefore spans three closely related areas: corporate lending, investment banking and private-credit investing.
Edelweiss
Kothari has been associated with Edelweiss since 2011, according to corporate disclosures. A 2024 EAAA disclosure described him as the head of performing credit and said he was responsible for developing the overall performing-credit strategy, managing the performing-credit portfolio and handling client relationships.
EAAA's current profile describes him as Fund Manager – Performing Credit and says he has more than 10 years of experience within Edelweiss.
Parag Kothari’s Role at EAAA India Alternatives
At EAAA India Alternatives, Parag Kothari is identified as Fund Manager – Performing Credit. His current mandate sits within EAAA's Private Credit business, which provides credit and flexible financing solutions across different parts of the risk spectrum.
His responsibilities have historically included developing the performing-credit strategy, overseeing the portfolio and managing relationships with clients.
EAAA describes its Performing Credit platform around three broad characteristics:
- Structured solutions: designing financing structures suited to the requirements of companies and promoters.
- Growth orientation: providing capital to businesses operating in sectors with longer-term growth potential.
- Disciplined credit assessment: evaluating borrowers and structures with attention to collateral, covenants and guarantees.
The platform currently reports $1.3 billion in capital commitments, $550 million amount realised, 26 investments and 12 exits. These figures relate to the overall Performing Credit platform and should not be interpreted as the assets, returns or investment record of Parag Kothari personally or of any single ESOF vehicle.
Parag Kothari and the Edelweiss Special Opportunities Fund
The strongest direct fund association in available EAAA material is with the Edelweiss Special Opportunities Fund (ESOF).
EAAA states that Kothari heads the ESOF Strategy under the Private Debt business and has been involved in the complete lifecycle of ESOF 1.
ESOF is an AIF Category II vehicle with SEBI registration number IN/AIF2/16-17/0288. EAAA's AIF registration details have identified Parag Kothari and Navin Bhutoria as key investment team members/fund managers for the fund. A subsequent EAAA team document also listed Shreyash Deshpande alongside Navin Bhutoria and Parag Kothari.
The association is therefore more specific than simply describing Kothari as an Edelweiss private-credit professional. His current EAAA profile explicitly connects him with the ESOF Strategy.
For investors researching the fund, the distinction between the fund, the investment manager and individual investment professionals remains important. A fund manager's association with a strategy does not by itself establish that every investment decision is made individually by that person.
You can explore the dedicated Edelweiss Special Opportunities Fund page for fund-level information, including its structure and available investment details.
Parag Kothari’s Performing Credit Investment Approach
Performing credit differs from distressed or stressed credit in the point at which capital is deployed and the nature of the underlying opportunity.
The broad objective in performing credit is generally to provide capital to businesses that continue to operate and have identifiable repayment or refinancing sources. The investment may involve structured debt, bespoke financing or other forms of private credit rather than conventional listed bonds or bank loans.
EAAA describes its Performing Credit approach as combining structured solutions with a growth orientation and disciplined credit assessment. The platform says its approach can involve diversified collateral, covenants and guarantees while focusing on companies in sectors with secular growth characteristics.
Against this background, a performing-credit investment process can involve several stages:
1. Business and borrower assessment
The investment team needs to understand the company's business model, operating performance, financial position and funding requirements. Historical financial statements, cash flows, leverage and repayment capacity form part of the credit analysis.
2. Transaction structuring
Private credit allows financing to be structured around the specific requirement of the borrower. The structure may consider repayment schedules, security, covenants, guarantees and other contractual protections.
3. Collateral and downside assessment
Credit underwriting is not limited to estimating potential returns. It also involves examining the sources of repayment and the assets or contractual protections available if the investment does not perform according to the original plan.
4. Portfolio monitoring
Once capital has been deployed, ongoing monitoring becomes important. Changes in business performance, leverage, liquidity, promoter actions, sector conditions and refinancing requirements can affect the credit profile.
5. Exit and repayment
The investment thesis ultimately depends on the borrower meeting its obligations or another defined exit route becoming available. The timing and form of repayment can vary according to the transaction structure.
EAAA's Performing Credit platform gives examples of financing provided for business expansion, debt refinancing and growth requirements. These are platform-level examples and should not be treated as evidence of individual transactions managed by Kothari unless specifically attributed in fund documents.
Funds and Private Credit Strategies Associated with Parag Kothari
Based on the available EAAA disclosures, the principal fund association for Parag Kothari Edelweiss is the Edelweiss Special Opportunities Fund.
| Fund / Strategy | Association | Category / Business |
| Edelweiss Special Opportunities Fund (ESOF) | Heads ESOF Strategy; identified as key investment team member/fund manager | Category II AIF / Private Debt |
| Performing Credit | Current investment-management role | EAAA Private Credit |
EAAA's AIF registration document identifies ESOF as a Category II AIF and lists Parag Kothari among its key investment team members/fund managers.
Other EAAA private-credit funds should not automatically be attributed to Kothari simply because they fall within the broader Private Credit business. Fund-level documents can have separate investment teams. Based on the reviewed EAAA disclosures, ESOF is the fund association that can be stated directly for this profile.
For a broader view of EAAA's alternative-investment platform, see the EAAA India Alternatives company profile. EAAA India Alternatives
Explore Investment Funds
Investors researching private-credit and alternative investment opportunities can explore fund-level information separately from individual fund-manager profiles. For the Parag Kothari-associated strategy, refer to the Edelweiss Special Opportunities Fund page. Explore Edelweiss Special Opportunities Fund
For broader information on the investment platform, explore EAAA India Alternatives and its Private Credit strategies. Explore EAAA India Alternatives
Manage By : Parag Kothari
