Granite Asia raises over USD250m for debut private credit fund

Granite Asia has secured over USD250m from anchor investors for its debut private credit vehicle, the Libra Hybrid Capital Fund, the firm announced. Backers include leading Asian sovereign wealth funds, its general partners, and affiliated entrepreneurs. The fund, targeting USD500m, will provide secured loans to profitable mid-market companies across Asia-Pacific aiming to scale regionally or globally. Led by credit strategy partners Ming Eng and Roger Zhang, the fund will focus on sectors such as consumer, business services, automation, energy transition, and healthcare. Granite Asia said its operating expertise will help portfolio firms access further financing and expand into new markets. Strong investor interest reflects the region’s rapid growth and potential for double-digit returns, outpacing more mature private credit markets.