KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
Granite Asia Raises Over US$350 Million for Pan-Asia Private Credit Fund Backed by Temasek, Khazanah, INA
Granite Asia has secured more than US$350 million in the first close of its new Pan-Asia private credit fund, attracting commitments from major Southeast Asian state investors including Temasek, Khazanah Nasional, and the Indonesia Investment Authority (INA).
The strategy, known as Libra Hybrid, is targeting a total fund size of US$500 million. In addition to the three sovereign anchors, the fund drew capital from global institutional investors, sovereign funds, and Granite Asia’s own partners.
Temasek invested through its private credit platform Aranda Principal Strategies, the firm said.
Granite Asia added that roughly 30% of the committed capital has already been deployed across six transactions.
Private Credit Growth Across Asia
The launch comes as Asia’s private credit market continues accelerating. According to a report by the Alternative Investment Management Association and several advisory firms, the region’s private credit market is expected to expand 46% to US$92 billion by 2027 — outpacing global growth despite regulatory fragmentation and currency risks.
“We’re seeing strong demand for private credit from companies undergoing transformative growth — redesigning supply chains, expanding into new markets, or modernising through technology,” said managing partner Ming Eng, who leads Granite Asia’s private credit strategy.
Granite Asia’s Regional Footprint
Granite Asia — formerly GGV Capital Asia — was formed after its US parent split operations in 2023 following scrutiny from US authorities over investment ties to Chinese technology companies.
The firm has been expanding its regional partnerships:
Last year, it teamed up with INA for a US$1.2 billion investment programme in Indonesia’s tech sector.
In March, it partnered with Japan’s Integral to form a US$100 million joint venture.
Granite Asia currently manages about US$6 billion across venture, growth, and credit strategies, with investments in 57 unicorn-level companies and involvement in 33 IPOs, according to its statement.
Key Takeaways
Granite Asia raised US$350m+ in the first close of its Libra Hybrid private credit fund.
Anchors include Temasek, Khazanah, and INA — three of Southeast Asia’s most influential state investors.
The fund targets US$500m total commitments and has already deployed 30% across six deals.
Asia’s private credit market is forecast to grow 46% to US$92b by 2027, outpacing global trends.
Granite Asia continues to expand its regional partnerships after its 2023 split from GGV Capital US.
The firm manages US$6b in assets and has backed companies that achieved 57 unicorn valuations and 33 IPOs.
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