(See the Percent profile on Pulse 2.0 here)
Percent has appointed Bina Shetty as Chief Commercial Officer and Cecil Smart as Chief Credit Officer as the private credit platform expands its asset management business and surpasses $2 billion in total transaction volume.
The leadership appointments come as Percent continues scaling both its investment capabilities and the infrastructure supporting institutional and individual participation in private credit markets.
Percent ended the second quarter with $346.9 million in platform assets under management, an increase of $67 million over the prior year.
That represents year-over-year AUM growth of 23.9%.
The company said the increase reflects growing institutional adoption of its asset management business as well as the technology infrastructure behind it, including white-label partnerships.
Percent is building a platform intended to provide greater access, liquidity optionality and data across the private credit market.
Its infrastructure is used by both institutional and individual investors.
The appointments give Percent dedicated senior leadership over two areas that institutional allocators typically scrutinize closely when evaluating investment managers: commercial relationships and credit management.
Smart will oversee Percent’s credit strategy, underwriting standards, portfolio surveillance and workout management.
He brings more than 20 years of experience in structured finance.
Smart most recently worked at Sixth Street and previously led the Commercial Asset-Backed Securities group at Kroll Bond Rating Agency.
Shetty has been promoted from Head of Originations at Percent to Chief Commercial Officer.
In the new position, she will oversee originations, borrower relationships and investor relations.
Shetty brings more than 25 years of investment banking experience, including previous positions at Merrill Lynch, CIBC World Markets and Canaccord Genuity.
Together, Shetty and Smart will provide dedicated leadership across Percent’s commercial and credit organizations as the company increases its investment activity.
Percent is also expanding the managed-product side of its platform.
Its separately managed accounts, managed by Percent Advisors, provide private credit portfolios structured around clients’ stated investment parameters.
The company also operates a secondary market that allows investors to offer private credit positions for sale before maturity, although liquidity depends on finding a willing buyer and is not guaranteed.
Percent’s broader strategy is focused on combining asset management with technology infrastructure for sourcing, structuring, distributing, servicing and trading private credit assets.
The company has also been expanding its lower middle market lender finance focus as it builds out its asset management capabilities.
Percent’s growth has coincided with a higher ranking on the Inc. 5000.
The company moved up 345 positions, from No. 1,301 in 2025 to No. 956 in 2026.
Founded in 2018, Percent has facilitated billions of dollars in private credit transaction volume and is positioning its platform around bringing greater standardization and transparency to an asset class that has historically been fragmented.
KEY QUOTE:
“Percent has spent years building the infrastructure for a more transparent and efficient private credit market. Now we’re scaling the organization and specifically the investment capabilities built on top of that foundation. Bina and Cecil bring clear senior accountability across commercial growth and credit as we expand into the ways institutional investors increasingly access private credit and continue building on our lower middle market lender finance focus on the asset management side.”
Prath Reddy, CFA, Co-Founder And CEO Of Percent
