Singapore-based investment firm Granite Asia has raised more than $500 million for its pan-Asia private credit fund, Libra Hybrid, according to reporting from The Business Times.
Funding Sources and Institutional Backing
The latest funding round closed above the $500 million target, following an earlier close of $350 million in December 2025, as reported by The Business Times. DBS Private Bank clients committed nearly $70 million to the fund during this round. These investors join anchor backers including Khazanah Nasional, a Malaysian sovereign wealth fund, the Indonesia Investment Authority, and Temasek, which invests via its Aranda Principal Strategies platform.
“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,” Tan told The Business Times.
Navigating the Regional Financing Gap
The capital raise occurs against a backdrop of slowing growth in Asia-Pacific private credit fundraising and deployment, according to a Moody’s Ratings report cited by The Business Times. Global redemption requests, macroeconomic uncertainty, geopolitical tensions, and higher interest rates continue to weigh on investor appetite for illiquid assets.
Despite these headwinds, regional companies require ongoing capital for growth, acquisitions, and business transformation. Jenny Lee, senior managing partner at Granite Asia, noted that welcoming partners across banking and insurance strengthens the firm’s capacity to offer comprehensive financing solutions, from equity to credit.
Deployment and Sector Focus
Since its launch in 2025, Libra Hybrid has executed eight transactions, completed two exits, and distributed capital back to investors. Ming Eng, managing partner and private credit lead at Granite Asia, stated that the firm observes sustained demand for private credit and hybrid capital. Investments target sectors such as advanced manufacturing, consumer goods, and healthcare, which benefit from Asia’s structural growth drivers and long-term economic fundamentals.
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