diff --git a/server/src/main/java/org/opensearch/index/store/remote/utils/TransferManager.java b/server/src/main/java/org/opensearch/index/store/remote/utils/TransferManager.java
index 09355c18ace5a..110fcf0fd4b4b 100644
--- a/server/src/main/java/org/opensearch/index/store/remote/utils/TransferManager.java
+++ b/server/src/main/java/org/opensearch/index/store/remote/utils/TransferManager.java
@@ -25,6 +25,8 @@
 import java.nio.file.Path;
 import java.security.AccessController;
 import java.security.PrivilegedAction;
+import java.security.PrivilegedActionException;
+import java.security.PrivilegedExceptionAction;
 import java.util.concurrent.CompletableFuture;
 import java.util.concurrent.CompletionException;
 import java.util.concurrent.atomic.AtomicBoolean;
@@ -70,30 +72,32 @@ public IndexInput fetchBlob(BlobFetchRequest blobFetchRequest) throws IOExceptio
         final Path key = blobFetchRequest.getFilePath();
         logger.trace("fetchBlob called for {}", key.toString());
 
-        return AccessController.doPrivileged((PrivilegedAction<IndexInput>) () -> {
-            CachedIndexInput cacheEntry = fileCache.compute(key, (path, cachedIndexInput) -> {
-                if (cachedIndexInput == null || cachedIndexInput.isClosed()) {
-                    logger.trace("Transfer Manager - IndexInput closed or not in cache");
-                    // Doesn't exist or is closed, either way create a new one
-                    return new DelayedCreationCachedIndexInput(fileCache, streamReader, blobFetchRequest);
-                } else {
-                    logger.trace("Transfer Manager - Already in cache");
-                    // already in the cache and ready to be used (open)
-                    return cachedIndexInput;
+        try {
+            return AccessController.doPrivileged((PrivilegedExceptionAction<IndexInput>) () -> {
+                CachedIndexInput cacheEntry = fileCache.compute(key, (path, cachedIndexInput) -> {
+                    if (cachedIndexInput == null || cachedIndexInput.isClosed()) {
+                        logger.trace("Transfer Manager - IndexInput closed or not in cache");
+                        // Doesn't exist or is closed, either way create a new one
+                        return new DelayedCreationCachedIndexInput(fileCache, streamReader, blobFetchRequest);
+                    } else {
+                        logger.trace("Transfer Manager - Already in cache");
+                        // already in the cache and ready to be used (open)
+                        return cachedIndexInput;
+                    }
+                });
+
+                // Cache entry was either retrieved from the cache or newly added, either
+                // way the reference count has been incremented by one. We can only
+                // decrement this reference _after_ creating the clone to be returned.
+                try {
+                    return cacheEntry.getIndexInput().clone();
+                } finally {
+                    fileCache.decRef(key);
                 }
             });
-
-            // Cache entry was either retrieved from the cache or newly added, either
-            // way the reference count has been incremented by one. We can only
-            // decrement this reference _after_ creating the clone to be returned.
-            try {
-                return cacheEntry.getIndexInput().clone();
-            } catch (IOException e) {
-                throw new RuntimeException(e);
-            } finally {
-                fileCache.decRef(key);
-            }
-        });
+        } catch (PrivilegedActionException e) {
+            throw (IOException) e.getException();
+        }
     }
 
     @SuppressWarnings("removal")