{
  "id": 3229150,
  "title": "Granite Asia secures more than $500m for Asia-focused private credit strategy",
  "url": "https://urgent.news/2026/08/25/granite-asia-secures-more-than-500m-for-asia-focused-private-credit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-25T08:24:29.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://www.privateequitywire.co.uk/granite-asia-secures-more-than-500m-for-asia-focused-private-credit-strategy/"
  },
  "original_language": "en",
  "account": "Granite Asia has raised over $500 million for its Asia-focused private credit strategy, exceeding its initial fundraising target, even as the asset class faced challenges globally, according to Bloomberg. The Singapore-based firm launched the Libra Hybrid fund mid-2025 with a $250 million first close, aiming for $500 million. Among its backers are Aranda Principal Strategies, a Temasek Holdings subsidiary, DBS Private Bank, Malaysia’s Khazanah Nasional, and the Indonesia Investment Authority. The strategy, led by managing partner Ming Eng, saw investor demand surpass expectations despite private credit's unpopularity in the US due to concerns over borrower stress and market liquidity. The global private credit industry, valued at roughly $1.8 trillion, has encountered difficulties, including notable borrower failures and limits on investor redemptions at some major managers. Moody’s Ratings cautioned that fundraising and deployment in Asia-Pacific private credit may slow, partly due to global redemption pressures. Eng, however, believes private credit in Asia remains robust, noting that much of the capital allocated to it in recent years has been concentrated in the US and Europe. She highlighted that investors are increasingly seeking geographic diversification in private credit rather than reducing overall allocations. Libra Hybrid has made eight investments since its launch and has already exited two. Eng did not disclose performance figures but stated that private credit strategies targeting Asia typically aim for mid-to-high teen returns. Some capital has been returned to investors following exits, with remaining proceeds being reinvested into new opportunities. Granite Asia also aims to differentiate its strategy from competitors focused primarily on pricing. Eng indicated the firm is ready to structure transactions in alternative ways, such as financing acquisitions while participating in future revenue growth.",
  "summary": "Granite Asia has raised more than $500m for its Asia-focused private credit strategy, surpassing the initial fundraising target despite a challenging backdrop for the asset class globally, according to a report by Bloomberg.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Granite Asia exceeds US$500 million target for pan-Asia private credit fund",
        "url": "https://urgent.news/2026/08/25/granite-asia-exceeds-us-500-million-target-for-pan-asia-private",
        "published": "2026-08-25T01:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}