Granite Asia has secured $250m (£188m) for its new personal credit score fund forward of its official launch.
The preliminary funding for the brand new personal credit score technique, the Libra Hybrid Capital Fund, consists of backing from high Asian sovereign wealth funds, in addition to capital from Granite Asia’s normal companions and its 25-year community of founders and entrepreneurs.
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The brand new fund will likely be a “key pillar” of Granite Asia’s multi-asset technique and is designed to capitalise on Asia’s development, fuelled by digitalisation and the rise of mid-market firms scaling into bigger international companies.
The fund focuses on secured loans throughout the Asia-Pacific area with a defensive threat profile and is meant to supply steady money yields alongside enhanced returns.
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It’s going to present established companies with personal debt capital as an alternative choice to conventional financing to assist them speed up development.
“Libra Hybrid Capital expands our capability to assist a broader vary of companies — significantly sizable, capital-efficient enterprises that fall exterior the standard fairness profile however type the spine of Asia’s economic system,” mentioned Jenny Lee, senior managing companion at Granite Asia.
“With anchor commitments surpassing $250m — representing over half of the fund’s goal — we’re seeing robust conviction from institutional buyers in our differentiated strategy to capturing Asia’s subsequent section of development.”
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