Great Eastern Joins the Private Credit Rush, Commits $100M to Granite Asia

Caroline Ryan

Wed, August 26, 2026 at 11:56 PM GMT+3 2 min read

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Granite Asia has raised more than $500 million for its Pan-Asia private credit strategy, adding fresh backing from a major insurer, DBS Private Bank, and other institutions.

The firm reported that the strategy, called Libra Hybrid, also counts Temasek (via Aranda Principal Strategies), Khazanah Nasional Berhad and the Indonesia Investment Authority among its anchor backers. Great Eastern Holdings, a Singapore-based insurer, also provided a $100 million investment in the fund, Bloomberg reported.

Granite Asia said Libra Hybrid sources deals through founder and corporate networks. It focuses on structured, bespoke financing instead of chasing widely syndicated transactions.

Libra Hybrid began in 2025 and has already closed eight deals, produced two exits and returned distributions to investors. The firm also highlighted its broader history, citing 26 years of investing activity across more than 500 companies and 68 IPOs. It currently manages over $10 billion in assets across venture, growth, and credit strategies.

"We continue to see strong demand for private credit and hybrid capital from companies undergoing transformative growth, strengthening supply chains, expanding into new markets, or modernizing through technology," said Ming Eng, Managing Partner at Granite Asia. "Surpassing our target reflects the confidence investors have placed in our ability to source, structure, and deliver differentiated investments."

Jenny Lee, Senior Managing Partner at Granite Asia, called private credit "a natural extension" of the platform.

Private capital markets in Asia-Pacific continued their recovery in the first half of 2026, with improving liquidity supporting gains in private equity and venture capital despite geopolitical tensions, tariff uncertainty, inflation and high energy costs.

According to PitchBook, the rebound has been driven less by falling interest rates and more by stronger market liquidity and regional structural factors. Exit activity and distributions have improved, while fundraising has reopened for larger, established managers. However, the recovery remains uneven: exit values are rising even as the number of exits falls, suggesting that a small number of large deals are driving the overall gains.

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This article Great Eastern Joins the Private Credit Rush, Commits $100M to Granite Asia originally appeared on Benzinga.com

Great Eastern Joins the Private Credit Rush, Commits $100M to Granite Asia

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