Granite Asia has secured over $250m in anchor commitments for its private credit strategy, Libra Hybrid Capital Fund, ahead of the official fund launch.
The initial commitments include backing from top Asian sovereign wealth funds, as well as capital from Granite Asia’s general partners and its 25-year network of founders and entrepreneurs, according to a statement by the Singapore-headquartered multi-asset investment platform.
Libra Hybrid Capital is designed to capitalise on Asia’s growth fuelled by digitalisation and the rise of mid-market companies scaling into regional and global leaders.
It is led by Granite Asia partners Ming Eng and Roger Zhang.
The fund is meant to bridge funding gaps for companies within and across Asia Pacific as supply chains and capital flows realign with regional priorities. The fund provides established businesses, from tech-driven growth companies to traditional enterprises undergoing digitalization and tech transformation, with non-dilutive private debt capital as an alternative to traditional financing.
The fund focuses on secured loans with a defensive risk profile, offering stable cash yields alongside enhanced returns, according to Granite Asia.
Jenny Lee, senior managing partner at Granite Asia said. “Libra Hybrid Capital expands our ability to support a broader range of businesses — particularly sizable, capital-efficient enterprises that fall outside the typical equity profile but form the backbone of Asia’s economy.”
