Granite Asia exceeds US$500 million target for pan-Asia private credit fund

[SINGAPORE] Multi-asset firm Granite Asia has raised more than its target amount of US$500 million for its pan-Asia credit fund, Libra Hybrid.

Besides institutional investors, the new investors include DBS Private Bank and an insurer. They join anchor investors Khazanah Nasional, a Malaysian sovereign wealth fund; the Indonesia Investment Authority; and Temasek, which invests through its Aranda Principal Strategies platform.

The latest round of fundraising reflects growing investor interest in Asia’s mid-market financing gap, said Granite Asia.

Its senior managing partner Jenny Lee said: “Welcoming partners across banking and insurance strengthens our ability to offer comprehensive financing, from equity to credit, with the same discipline and long-term partnership that define Granite Asia.”

Since launching in 2025, Libra Hybrid has executed eight transactions, completed two exits and made distributions to investors.

It has invested in sectors including advanced manufacturing, consumer and healthcare – which benefit from Asia’s structural growth drivers and long-term fundamentals.

Ming Eng, managing partner and private credit lead at Granite Asia, noted: “We continue to see strong demand for private credit and hybrid capital from companies undergoing transformative growth, strengthening supply chains, expanding into new markets, or modernising through technology.”