Singapore-Based investment Firm Tops $500 Million Private Credit Target
Granite Asia has surpassed its $500 million fundraising target for its Pan-Asia private credit strategy, adding DBS Private Bank and a major insurer to a roster of heavyweight institutional investors.
Singapore-based investment firm Granite Asia has raised more than $500 million for its Libra Hybrid private credit strategy, exceeding the target set for the Pan-Asian vehicle.
New commitments have come from DBS Private Bank, a leading insurer and other institutional investors, Granite Asia said on Tuesday.
They join a group of anchor investors that includes Singapore state investor Temasek, through its private credit platform Aranda Principal Strategies, Malaysia’s Khazanah Nasional Berhad and the Indonesia Investment Authority.
Betting on Asia’s Financing Gap
Launched in 2025, Libra Hybrid targets the financing needs of mid-market companies across Asia.
Rather than competing primarily for broadly syndicated transactions, Granite Asia said the strategy relies on proprietary deal origination through its relationships with founders and corporates, combining strategic capital with underwriting discipline.
The strategy builds on Granite Asia’s 26-year investment track record. The firm says it has invested across more than 500 companies and 68 IPOs and now manages more than $10 billion across venture, growth and credit strategies.
Eight Deals and Two Exits
Libra Hybrid has completed eight transactions since its launch, including investments in advanced manufacturing, consumer and healthcare businesses.
The strategy has already recorded two exits and made distributions to investors, according to Granite Asia.
The firm sees continued demand for private credit and hybrid financing from Asian companies seeking capital to expand internationally, strengthen supply chains or invest in technology.
«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,» said Ming Eng, Managing Partner at Granite Asia, who leads its private credit strategy.
Private Credit Becomes Bigger Part of Platform
For Granite Asia, private credit also represents an expansion beyond the equity strategies on which the investment firm built its business.
«Private credit is a natural extension of our platform, reflecting the evolving capital needs of the founders and businesses across Asia,» said Jenny Lee, Senior Managing Partner at Granite Asia.
The addition of investors from banking and insurance strengthens Granite Asia’s ability to provide financing ranging from equity to credit, she added.
The fundraising comes as private credit continues to gain traction across Asia, particularly as companies seek alternative sources of financing beyond traditional bank lending and public debt markets.
