Prath Reddy spent a decade as a debt capital markets banker at Credit Agricole and UBS before identifying a structural “gap” that the rest of the industry seemed to accept as the status quo. Despite private credit ballooning into a $2.1 trillion asset class, Reddy observed that the underlying infrastructure remained “fragmented, manual and opaque.” Investors were often trapped by limited transparency and long lock-up periods, while earlier-stage originators struggled to raise efficient capital.
Now, as president of Percent, Reddy is modernizing the entire capital-raising process within a single digital environment. By launching Percent’s distribution platform and its recent Secondary Markets initiative, he is directly tackling the industry’s most persistent barrier: illiquidity.
“The goal was building infrastructure that brings transparency, measured liquidity and disciplined execution to private credit,” Reddy says, aiming for an efficiency that has the potential to “surpass the efficiency of public markets without compromising the structure of the asset class.”
Reddy fosters this innovation by encouraging his team to “question legacy assumptions about how private credit ‘has always been done.’” Many industry inefficiencies, he notes, stem from “structural habits rather than regulatory necessity.” To combat this, he maintains an intentionally nimble, cross-functional environment where underwriting, engineering and compliance “quite literally sit in the same room and work closely together.”
This proximity creates rapid feedback loops that drive practical innovation. “When an underwriter identifies friction in diligence, product and engineering can immediately think about how to systematize it,” Reddy explains. By designing technology that “reflects how private credit actually functions rather than forcing it into a public-market model,” Reddy is incrementally building trust in a cautious market and ensuring the asset class remains durable while it evolves.
