Granite Asia beats $500M target for pan-Asia private credit fund
What's the deal? Granite AsiaDealroom has a profile for this one. Try Dealroom → has raised more than its US$500 million target for Libra Hybrid, a pan-Asia credit fund. New backers include DBS Private BankDealroom has a profile for this one. Try Dealroom → and an insurer, joining anchor investors Khazanah NasionalDealroom has a profile for this one. Try Dealroom →, the Indonesia Investment AuthorityDealroom has a profile for this one. Try Dealroom →, and Temasek, which invests through its Aranda Principal StrategiesDealroom has a profile for this one. Try Dealroom → platform.
Why now? The multi-asset firm said the round reflects growing investor interest in Asia's mid-market financing gap. Demand for private credit is climbing as companies pursue growth without diluting equity.
What's the endgame? Since launching in 2025, Libra Hybrid has executed eight transactions, completed two exits, and made distributions to investors. It targets sectors including advanced manufacturing, consumer, and healthcare.
Adding banking and insurance partners "strengthens our ability to offer comprehensive financing, from equity to credit," said senior managing partner Jenny Lee.
The signal: Granite Asia is expanding beyond its venture roots into private credit, tapping demand from companies "undergoing transformative growth," said managing partner and private credit lead Ming Eng. The fund's growth points to hybrid capital becoming a fixture in Asia's mid-market financing landscape.
Read more: businesstimes.com.sg
Image credit: rmlowe
