SINGAPORE--Granite Asia's pan-Asian private credit strategy has crossed its $500 million target and added new commitments from DBS Private Bank and other institutional investors.

These backers join the fund's anchor investors including Indonesia Investment Authority and Temasek's private credit platform Aranda Principal Strategies, Granite Asia said Tuesday.

The Singapore multiasset investment company's pan-Asian private credit strategy was launched in 2025 and seeks to capitalize on opportunities in the region's midmarket financing gap, Granite Asia said. It has completed eight transactions and realized two exits under the strategy so far, with investments spanning sectors such as advanced manufacturing, consumer and healthcare.

"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 Granite Asia managing partner Ming Eng, who leads the firm's private credit strategy.