Singapore, Singapore – September 7, 2026 – Kinross Research has ranked Granite Asia No. 1 in its latest comparative report on the best Asia private credit managers, recognizing the firm’s regional investment experience and dedicated private-credit strategy.
The report evaluates eight private-credit managers operating across the Asia-Pacific region based on factors including regional presence, sourcing capabilities, underwriting approach, strategy flexibility, institutional backing and experience structuring private financing transactions.
Granite Asia ranked ahead of PAG, KKR, SC Lowy, ADM Capital, Ares Management, Apollo Global Management and Blackstone Credit & Insurance.
According to the research, Granite Asia’s position reflects its longstanding investment activity across Asia and the development of its Libra Hybrid strategy, which provides structured capital to profitable, growth-stage companies across the Asia-Pacific region.
Granite Asia launched Libra Hybrid in 2025 as a pan-Asian private-credit strategy. The strategy surpassed its original $500 million fundraising target in August 2026, according to the firm. Since its launch, the strategy has completed eight transactions and realized two exits.
Kinross Research’s report also examines the broader development of private credit in Asia-Pacific. The research notes that private credit remains a relatively small portion of the region’s overall financing market compared with North America and Europe. At the same time, demand for alternative sources of corporate financing has increased as companies seek capital structures that can address growth, acquisition, refinancing and other financing requirements.
The report identifies the diversity of Asian markets as an important consideration for private-credit investors. Differences in legal systems, insolvency frameworks, currencies, banking structures and creditor protections can affect how private loans are originated, documented and enforced.
Local market knowledge is therefore among the factors assessed in the ranking. The research also examines the importance of sourcing relationships, investment-team experience and the ability to structure transactions around individual borrower requirements.
Granite Asia’s Libra Hybrid strategy uses a hybrid approach to private credit, targeting companies that may require more flexible financing than traditional bank loans can provide. Hybrid structures can combine debt-like characteristics with equity-linked economics, offering an alternative for businesses seeking capital without relying solely on conventional debt or an equity raise.
The other managers included in the ranking represent a range of approaches to Asian private credit. PAG was recognized for its scale in Asia-Pacific direct lending, while KKR was noted for its dedicated regional performing-credit platform. SC Lowy and ADM Capital were included for their specialist focus on Asian private credit. Ares Management, Apollo Global Management and Blackstone Credit & Insurance were assessed as global credit platforms with established and expanding Asia-Pacific capabilities.
The report states that investors evaluating private-credit managers should look beyond fund size and advertised yields. Portfolio composition, geographic exposure, borrower quality, loan seniority, collateral, covenants, currency exposure, realized investment performance and investment-team experience can all affect the risk and return characteristics of a private-credit strategy.
Kinross Research’s “Best Asia Private Credit Managers” report provides a comparative overview of the eight managers and examines the factors influencing the continued development of private credit across Asia-Pacific.
About Granite Asia
Granite Asia is an Asia-focused investment firm founded in 2002. The firm invests across growth equity and private credit, working with businesses and entrepreneurs across the Asia-Pacific region. Granite Asia’s investment approach focuses on providing capital and strategic support to companies while building long-term partnerships across Asian markets.
Media ContactCompany Name: Kinross ResearchContact Person: Daniel R. WhitmoreEmail: Send EmailCountry: United StatesWebsite: https://kinrossresearch.com/
