Granite Asia Credit Fund Surpasses $500M Target

Granite Asia has successfully exceeded its ambitious fundraising target, amassing over USD 500 million for its Pan-Asia private credit strategy, Libra Hybrid. This significant achievement was bolstered by new commitments from a prominent insurer and DBS Private Bank, who join a distinguished roster of anchor investors. These include Singapore's sovereign wealth fund, Temasek, via its private credit arm Aranda Principal Strategies, Malaysia's Khazanah Nasional Berhad, and the Indonesia Investment Authority.

The substantial capital raise highlights a growing institutional appetite for addressing the financing void within Asia's mid-market segment. The Libra Hybrid strategy is specifically engineered to navigate this complex terrain, emphasizing proprietary deal origination through established founder and corporate relationships, rather than competing in the crowded broadly syndicated loan market. This approach is underpinned by Granite Asia's extensive 26-year track record, which encompasses over 500 company engagements and 68 initial public offerings, supported by a comprehensive platform managing over USD 10 billion in assets across venture, growth, and credit investments.

Since its inception in 2025, the Libra Hybrid fund has demonstrated early traction, having already executed eight transactions. The fund has also successfully realized two exits, facilitating distributions back to its investors. The portfolio's diversification across key sectors such as advanced manufacturing, consumer goods, and healthcare reflects the enduring structural growth drivers and robust long-term economic fundamentals prevalent across the Asian continent.

“We are observing sustained demand for private credit and hybrid capital solutions from companies undergoing significant expansion, enhancing their supply chain resilience, pursuing international market entry, or embracing technological modernization,” stated Ming Eng, Managing Partner at Granite Asia, who spearheads the firm’s private credit initiatives. “Surpassing our fundraising objective is a clear validation of the trust investors place in our capacity to identify, structure, and execute distinctive investment opportunities.”

Jenny Lee, Senior Managing Partner at Granite Asia, further commented on the strategic alignment of this initiative. “Private credit represents a logical progression for our established platform, directly addressing the evolving capital requirements of Asia’s dynamic founders and businesses. The addition of esteemed partners from the banking and insurance sectors significantly enhances our capability to deliver holistic financing solutions, spanning the entire capital spectrum from equity to debt, all while upholding the rigorous discipline and long-term partnership ethos that define Granite Asia.”

This successful fundraising round positions Granite Asia to further capitalize on the burgeoning opportunities in Asian private credit, a market segment that has seen significant growth, with private debt fundraising in Asia Pacific reaching approximately USD 30 billion in 2023, according to industry reports. The firm's strategy of focusing on the underserved mid-market, combined with its deep local expertise and strong investor base, provides a compelling proposition for both companies seeking capital and investors looking for differentiated returns.