Granite Asia has surpassed its $500 million target for its pan-Asia private credit strategy, Libra Hybrid, according to a Tuesday statement.
The strategy drew new commitments from an unnamed insurer, DBS Private Bank and other institutional investors, joining existing investors such as Temasek's private credit platform, Aranda Principal Strategies, Indonesian Investment Authority and Malaysia's Khazanah Nasional.
Libra Hybrid focuses on Asia's mid-market financing gap, and has to date completed eight transactions and realized two exits.
The firm manages more than $10 billion in assets across more than 500 companies and 68 initial public offerings.