Great Eastern commits about $100m to Granite Asia private credit fund
Singapore-based insurer Great Eastern Holdings has invested about $100m in Granite Asia’s debut private credit fund, highlighting continued demand from insurers for private debt despite growing scrutiny of credit risks, according to a report by Bloomberg.
Singapore insurer Great Eastern Holdings has injected approximately $100 million into Granite Asia's inaugural private credit fund, signaling sustained interest from insurers in private debt, according to Bloomberg. This investment positions Great Eastern among a growing list of insurers augmenting their involvement in private credit as life insurers pursue higher-yielding assets in a challenging market.
Granite Asia, a Singapore-based alternative asset manager, has amassed over $500 million through its Pan-Asia private credit strategy, surpassing its initial fundraising objective. The recent commitments include contributions from Great Eastern, DBS Private Bank, and other institutional investors. DBS Group also disclosed that its private banking clients have pledged nearly S$70 million (around $55 million) to the strategy.
The fundraising initiative leverages over $350 million in anchor commitments collected by Granite Asia during its inaugural close last year from investors such as Temasek, Khazanah, and the Indonesia Investment Authority.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
