Granite Asia has surpassed the $500 million target for its Pan-Asia private credit strategy, Libra Hybrid, after securing new commitments from a leading insurer, DBS Private Bank and other institutional investors.
The new investors join anchor investors Temasek, through its private credit platform Aranda Principal Strategies, Khazanah Nasional Berhad and the Indonesia Investment Authority.
Granite Asia designed Libra Hybrid to address financing needs among mid-market companies across Asia, combining strategic capital, underwriting discipline and proprietary origination through the firm’s relationships with founders and corporations rather than focusing on broadly syndicated transactions.
The private credit strategy builds on Granite Asia’s 26-year investment history across more than 500 companies and 68 IPOs. The firm’s broader platform spans venture capital, growth investments and credit and has more than $10 billion in assets under management.
Since Libra Hybrid launched in 2025, the strategy has completed eight transactions, realized two exits and made distributions to investors.
Its investments have included businesses in advanced manufacturing, consumer and healthcare, with Granite Asia focusing on companies it believes can benefit from structural growth trends across Asian markets.
The strategy targets private credit and hybrid capital opportunities involving businesses undergoing transformational growth, strengthening supply chains, entering new markets or modernizing operations through technology.
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“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 the firm’s private credit strategy. “Surpassing our target reflects the confidence investors have placed in our ability to source, structure, and deliver differentiated investments.”
Ming Eng, Managing Partner at Granite Asia
“Private credit is a natural extension of our platform, reflecting the evolving capital needs of the founders and businesses across 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.”
Jenny Lee, Senior Managing Partner at Granite Asia
