Granite Asia's private credit fund secures £250m ahead of launch

Granite Asia has secured $250m (£188m) for its new private credit fund ahead of its official launch.

The initial funding for the new private credit strategy, the Libra Hybrid Capital Fund, includes 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.

The new fund will be a “key pillar” of Granite Asia’s multi-asset strategy and is designed to capitalise on Asia’s growth, fuelled by digitalisation and the rise of mid-market companies scaling into larger global businesses.

The fund focuses on secured loans across the Asia-Pacific region with a defensive risk profile and is intended to offer stable cash yields alongside enhanced returns.

It will provide established businesses with private debt capital as an alternative to traditional financing to help them accelerate growth.

“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,” said Jenny Lee, senior managing partner at Granite Asia.

“With anchor commitments surpassing $250m — representing over half of the fund’s target — we’re seeing strong conviction from institutional investors in our differentiated approach to capturing Asia’s next phase of growth.”