Singapore asset manager Granite Asia raised more than US$350 million in the first close of its pan-Asia private credit strategy, anchored by three Southeast Asian state investors.
Granite Asia’s general partners and network of founders and entrepreneurs and other global institutional investors also participated in fundraising for the Libra Hybrid strategy, the company says in a statement on December 10.
The anchor investors are Singapore’s Temasek Holdings, Malaysia’s Khazanah Nasional and the Indonesia Investment Authority.
According to Granite Asia, around 30% of capital from the strategy has been deployed across six transactions.
“This expansion into private credit extends Granite Asia’s 25-year track record in tech investing, which includes supporting over 500 companies with 63 initial public offerings globally,” the company says.
Ming Eng, managing partner of Granite Asia, says there is strong demand for private credit from firms “undergoing “transformative growth”.
“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. This dynamic creates a compelling opportunity for our investors: access to Asia’s growth through a capital-preserving credit strategy that delivers stable yields,” he says.
