Granite Asia has completed the first close of its Pan-Asia private credit strategy, Libra Hybrid, raising more than US$350 million.

The strategy, which targets US$500 million in total commitments, is anchored by Temasek through its private credit platform Aranda Principal Strategies, Khazanah Nasional Berhad, and the Indonesia Investment Authority (INA).

It also drew capital from global institutional investors and sovereign wealth funds.

Additional commitments came from Granite Asia’s general partners and the firm’s long-standing network of founders and entrepreneurs.

The fund has deployed and committed around 30% of its available capital across six transactions.

Several additional deals are in progress across a diversified pipeline.

This move into private credit builds on Granite Asia’s 25-year track record in technology investment.

Over that period, the firm has supported more than 500 companies and 63 global IPOs.

The credit strategy focuses on performing credit opportunities across Asia.

It provides structured, non-dilutive capital to profitable enterprises pursuing growth and business transformation.

“We’re seeing strong demand for private credit from companies undergoing transformative growth, redesigning supply chains, expanding into new markets, or modernising through technology,”

said Ming Eng, Managing Partner at Granite Asia, who leads the private credit strategy.

“These businesses require not just financing solutions beyond traditional equity or debt, but a trusted partner with specialised expertise and a deep regional track record.”

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