Granite Asia has surpassed the $500 million target for its Pan-Asia private credit strategy, Libra Hybrid, with new commitments from a leading insurer, DBS Private Bank and other institutional investors. They join anchor investors Temasek, through its private credit platform Aranda Principal Strategies, Khazanah Nasional Berhad and the Indonesia Investment Authority.

The latest fundraising underscores growing investor conviction in the opportunity presented by Asia's mid-market financing gap. Libra Hybrid is designed for this market: pairing strategic capital, underwriting discipline and proprietary origination through founder and corporate relationships, rather than competing for broadly syndicated deals. The strategy draws on Granite Asia's 26-year record across more than 500 companies and 68 IPOs, and a platform spanning venture, growth and credit with over $10 billion in AUM.

Since launching in 2025, Libra Hybrid has established an early track record, completing eight transactions, realizing two exits and making distributions to investors. Investments span a range of sectors, including advanced manufacturing, consumer and healthcare, that benefit from Asia's strong 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," 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."

Jenny Lee, senior managing partner at Granite Asia, said: "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."

"Asia's private credit market has become more discerning, with investors paying closer attention to how private credit managers originate deals, assess risk and protect capital. Meanwhile, many Asian companies still require flexible financing for growth, acquisitions, and business transformation. This creates opportunities for managers such as Granite Asia, which combines global reach with deep local networks and specialist structuring expertise in Asia, to help these companies achieve their ambitions while giving investors access to their growth."

"The response to Libra Hybrid bears this out. The fund surpassed its targeted raise of $500 million despite a difficult fundraising environment. Alongside other institutional investors, our private banking clients had exclusive access to the strategy and committed close to SGD 70 million ($55.1 million). It signals that even in a more selective market, investors will continue to back managers with the right reach and expertise to originate and structure good deals," said James Tan, group head of investment product and advisory, DBS Bank.

DBS Private Bank's private assets business grew fivefold between 2020 and 2025, as clients sought a wider mix of return and income sources beyond public markets. The bank works with global and regional managers to offer UHNW clients curated access to private equity, private credit, infrastructure and real estate. Manager selection is central to its approach, with attention paid to track record, deal sourcing, underwriting and the role each investment plays in a client's portfolio.

DBS' participation in Libra Hybrid builds on its three-year partnership with Granite Asia, which began with a $110 million AI-focused IPO fund distributed exclusively to DBS wealth clients.

Re-disseminated by The Asian Banker