Why Private Loans Break at Scale
Summary
Direct lending grew from 9% to 36% of private credit AUM in 15 years. But operational models built for origination break when portfolios scale. The constraint arises after extracting data from loan documents, when trying to make extracted data executable across increasing numbers of loans with different terms.
Juhi Ghosh
Juhi Ghosh is a senior product and technology leader with 20 years of experience building and scaling financial platforms. As Senior Vice President of Product at Arcesium, she founded and led the development of the firm’s UBOR platform — Arcesium’s core investment and portfolio accounting engine — taking it from inception to a mission-critical system processing millions of positions and trades per day.
Juhi’s expertise spans product strategy, enterprise platform architecture, complex financial domain modeling, and large-scale engineering execution in highly regulated environments. She specializes in translating complex financial infrastructure into durable, scalable platforms that drive long-term business value.
Juhi holds a Master of Science in Management Information Systems from Temple University and a Bachelor’s degree in Computer Engineering from Pune University.
Sources:
[i] Morgan Stanley, 2025. https://www.morganstanley.com/im/en-us/individual-investor/insights/articles/evolution-of-direct-lending.html
[ii] S&P Global, 2026. https://www.spglobal.com/market-intelligence/en/news-insights/articles/2026/1/global-private-credit-fundraising-increased-in-2025-96448289
[iii] iCapital, 2025. https://icapital.com/insights/private-credit/investment-essentials-direct-lending/
