Granite Asia Secures USD 250 Million for Libra Hybrid Capital Fund

Granite Asia’s first private credit fund, Libra Hybrid Capital Fund has secured an investment of USD 250 from anchor investors in its first private credit fund. The fund’s target is USD 500 million, but Granite Asia has been able to cross half of its planned fund due to anchor investors. These investors include Asian top sovereign wealth funds, Granite Asia’s general partners, founders and entrepreneurs.

The information about the funding was publicized through the press conference held on May 8. Ming Eng and Roger Zhang have been elected as the leaders of the Libra Hybrid Capital Fund. The key strategy for the fund is offering Mid-market companies loans.

This new fund will target the consumers, business services, advanced manufacturing automation, energy transition and healthcare sectors. Roger Zhang highlighted the borrower's mindset by stating, “Most of the time, borrowers see us as not only a capital provider but also as a good partner to help them grow to the next level.” The parent company will be utilizing the same technological and operating expertise for the companies to which the debt and equity financing are provided.

The fund highlights Asia's status growth market. The Asian market has stood differently compared to other mature private credit markets by providing double-digit returns resulting in speedier growth of the company.

The rise of regional capital supported by mid-market companies has helped the funds to rise, by navigating through the uncertainties of global capital. Due to the increased demand for the Asian market's private credit, the Libra hybrid credit fund has already signed a few deals, with a few already in advanced stages.