PAG, an Asia-focused investment company, plans to raise US$9 billion in what is expected to be its fourth and largest buyout fund. This information has been credited to a few people with direct knowledge of the matter.
The sources refused to be identified given the confidential nature of the information, but they did add that the Hong Kong-headquartered company has launched fundraising and has scheduled the first close for mid-2022.
PAG is responsible for the management and disbursement of over US$45 billion in assets and also refused to comment on the issue. About two-thirds of its private equity portfolio is in China.
This new fundraising is evidence of the confidence and commitment, both of the firm and its investment, in the country despite the spates of hard and unpredictable regulatory crackdown on a few sectors ranging from technology to real estate and education.
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