Hong Kong PE Firm PAG Asia Raises $6bn for Third Asia Buyout Fund

PAG Asia

Hong Kong-based private equity firm PAG has secured a total of $6 billion in capital commitments for its third Asia-focused private equity buyout fund – PAG Asia III LP, the firm announced Monday.

The fund was launched in June and was closed on November 16, less then three years after the close of its predecessor, PAG Asia Fund II, which is fully invested or committed.

“The strong interest in our Asia-focused buyout fund indicates the trust our investors have placed in us. We will continue our focus on delivering solid returns to our investors,” Weijian Shan, Chairman and CEO of PAG, said.

PAG Asia III will follow the same successful strategy as its predecessor funds, PAG Asia II, which closed in December 2015 at US$3.6 billion, and PAG Asia I, which closed in September 2012 at $2.5 billion.

PAG expects to begin investing out of PAG Asia III as soon as this year.

The fund series invests in major markets in Asia with a focus on buyout situations, leveraging PAG’s strong on-the-ground relationships to source proprietary deals and opportunities.

The firm operates in multiple markets including Australia, China, India, Japan, South Korea and Southeast Asia.

PAG is one of the world’s largest Asia-focused alternative investment firms, with funds under management across private equity, real estate and absolute return strategies.

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It currently manages $30 billion in capital for some of the world’s largest private and institutional investors. – BusinessNewsAsia.com