Less than 5 years after a shadow banking disaster spooked India’s monetary sector and compelled a retreat by lenders from all however the highest-rated credit score, a rising record of world asset managers is shifting to fill the hole.

Apollo Global Management, Cerberus Capital Management LP and Varde Partners are stepping up their operations on the earth’s most populous nation, funding billionaires and mid-sized companies for wants as numerous as acquisitions, bridge financing for preliminary public choices, and share purchase backs.