PAG Asia Capital to close third private equity fund at $6b
Tuesday, November 13, 2018
(DealStreetAsia by Nguyen Thi Bich Ngoc) – Hong Kong-based alternative investment firm PAG is on track to achieve the first and final close of its third Asia-focused private equity fund at $6 billion, according to an AVCJ report.
The report, citing sources, said the pan-regional fund had an initial target of $4.5 billion. A spokesperson for PAG declined to comment on the fund in response to a query from this portal.
News about the vehicle was reported earlier this year when PAG was said to start marketing for the fundraising.
The firm had raised a total of $6.1 billion for its first two Asia private equity funds. Its private equity practice is run by PAG Asia Capital, which focuses on large-scale buyouts, control deals and structured minority investments.
PAG’s two other core strategies include real estate and absolute returns. PAG Real Estate has invested over $21 billion in more than 6,500 properties across the region, while the absolute return business currently manages in excess of $5.5 billion and has invested over $7 billion within the past 10 years.
