PAG targets $3b for second Asia fund
Thursday, May 14, 2015
(AVCJ by Tim Burroughs) – PAG Asia Capital has launched its second pan-regional fund and is looking to raise $3 billion. The GP, which is led by Weijian Shan, formerly of TPG Capital, closed its maiden fund at $2.5 billion in 2012.
A hard cap has yet to be set for the new vehicle, sources familiar with the situation told AVCJ. The first investment is likely to be South Korea-based Young Toys. PAG is understood to have agreed to buy the business from Headland Capital Partners for around $200 million.
