Granite Asia announced it has secured over $250 million in anchor commitments for its private credit strategy, Libra Hybrid Capital Fund, before the official fund launch. These initial commitments include backing from top Asian sovereign wealth funds and capital from Granite Asia’s general partners.
This swift anchor closing highlights two powerful shifts: the rise of regional capital supporting mid-sized enterprises as they navigate rising global uncertainties, and the reallocation of global capital towards Asia’s growth markets. And as supply chains and capital flows realign with regional priorities, Libra Hybrid Capital is well-positioned to bridge funding gaps for companies scaling within and across Asia Pacific.
As a major pillar of Granite Asia’s multi-asset strategy, Libra Hybrid Capital was designed to capitalize on Asia’s growth, fuelled by digitalisation and the rise of mid-market companies scaling into regional and global champions. And the fund focuses on secured loans across the Asia-Pacific region with a defensive risk profile, offering stable cash yields alongside enhanced returns through Granite Asia’s technology ecosystem and hands-on value creation.
This fund offers established businesses, from tech-driven growth companies to traditional enterprises undergoing digitalization and tech transformation, with non-dilutive private debt capital as an alternative to conventional financing. And this enables corporates to access bespoke funding to accelerate organic and inorganic growth, while leveraging Granite Asia’s deep network for expansion and the strategic guidance from its seasoned operators and investors.
This fund is led by Granite Asia partners Ming Eng and Roger Zhang.
Ming Eng: Ming Eng is a Partner at Granite Asia in Singapore, co-leading credit solutions offerings. With 20 years of Asia private credit and financial markets experience, Eng was previously a managing partner at Orion Capital Asia, where she led investment activities and co-managed the firm’s rebranding from Olympus Capital Asia Credit. Earlier, Eng held senior roles at Macquarie Bank and VTB Capital and also worked at Goldman Sachs. Ming holds an MBA from the Wharton School of the University of Pennsylvania.
Roger Zhang: Roger Zhang is a Partner at Granite Asia, co-leading credit solutions offerings. With 19 years of APAC private credit and financial experience, Zhang was previously a Managing Director at Blackstone Credit, where he is responsible for origination and execution credit investments across the capital structure in Asia. Before Blackstone, Roger served as Head of Private Debt Asia at Partners Group. Roger holds an MBA from NYU Stern.
KEY QUOTES:
“Libra Hybrid Capital is a cornerstone of our multi-asset platform strategy, building on our 25-year track record of backing Asia’s most innovative companies. It expands our ability to support a broader range of businesses — particularly sizable, capital-efficient enterprises that fall outside the typical equity profile but form the backbone of Asia’s economy. With anchor commitments surpassing US$250 million — representing over half of the Fund’s target — we’re seeing strong conviction from institutional investors in our differentiated approach to capturing Asia’s next phase of growth.”
Jenny Lee, Senior Managing Partner at Granite Asia
“Securing over $250 million in anchor commitments ahead of launch — led by some of the region’s top sovereign wealth funds — underscores growing institutional confidence in our approach. It affirms the strength of our credit strategy and Granite Asia’s ability to deliver disciplined, on-the-ground access to the region’s next wave of growth.”
Ming Eng, Partner, Credit Strategy, Granite Asia
“We’re seeing strong demand for flexible, non-dilutive capital from well-run businesses looking to scale. Our deal pipeline is both active and proprietary, driven by our deep understanding of the region. With Granite Asia’s unique strengths in tech enablement, we’re gaining early access to opportunities where our capital and network can truly accelerate outcomes.”
Roger Zhang, Partner, Credit Strategy, Granite Asia
