Blackstone multi-manager fund takes minority stake in Hong Kong-based PAG
Tuesday, March 27, 2018
(SCMP by Georgina Lee) – Blackstone has made a minority investment in Hong Kong-based alternative investment manager PAG through a fund that invests in several managers globally.
The investment through Blackstone’s Strategic Capital Holdings Fund, a multi-manager fund, in PAG, which has more than US$20 billion under management, has brought the fund’s investments to eight globally. The stake in PAG is the fund’s first investment in Asia.
The investment in PAG comes on the heels of two other minority investments that the US$3.3 billion fund has made this month – it has also invested in New York-based Kohlberg and Company, and the Boston-based global real estate manager, Rockpoint Group.
The investment through Blackstone’s Strategic Capital Holdings Fund, a multi-manager fund, in PAG, which has more than US$20 billion under management, has brought the fund’s investments to eight globally. The stake in PAG is the fund’s first investment in Asia.
The investment in PAG comes on the heels of two other minority investments that the US$3.3 billion fund has made this month – it has also invested in New York-based Kohlberg and Company, and the Boston-based global real estate manager, Rockpoint Group.
