Granite Asia exceeds $500m goal for pan-Asia private credit fund

Photo credit: Granite Asia

Granite Asia, a Singapore-based multi-asset firm, has raised more than its target amount of US$500 million for its pan-Asia credit fund, Libra Hybrid.

New backers include DBS Private Bank and an insurer, alongside institutional investors. 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 fundraise reflects growing investor interest in Asia’s mid-market financing gap, according to Granite Asia.

“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,” says Jenny Lee, the firm’s senior managing partner.

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

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

“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 modernizing through technology,” notes Ming Eng, managing partner and private credit lead at Granite Asia.

See also: Granite Asia’s Jixun Foo on where Asia’s AI edge is forming

This story was republished with permission from The Business Times. It was moderately edited to reflect Tech in Asia’s editorial guidelines.