$55 Billion APAC Private Equity Group PAG Launches First CNY-Denominated Buyout Fund with $432 Million (CNY 3.1 Billion) at First Close
25th June | Hong Kong
Asia-Pacific private equity group PAG ($55 billion AUM) has launched the first CNY-denominated buyout fund with $432 million (CNY 3.1 billion) at first close. In 2025 May, PAG was reported to setup a $7 billion fund to acquire 48 shopping malls from China largest commercial property group Dalian Wanda Group. In 2024 April, Private equity group PAG, CITIC Capital, Ares Management & sovereign wealth funds Abu Dhabi Investment Authority (ADIA) subsidiary & Mubadala Investment Company announced the investment of $8.3 billion to own 60% of newly formed & largest shopping mall manager in the world with 496 large-scale shopping malls in China Newland Commercial Management, and (China) Dalian Wanda Commercial Management owning the remaining 40%. Profile – PAG is a leading alternative investment firm focused on APAC with three core strategies: Credit & Markets, Private Equity, and Real Assets. We manage capital on behalf of nearly 300 institutional fund investors, including some of the most sophisticated global asset allocators. PAG has more than 300 investment professionals in 15 key offices globally and manages approximately USD55 billion in assets. History – PAG is a leading diversified alternative investment firm with three major businesses: Credit & Markets (CM), Real Assets (RA), and Private Equity (PE). The history of PAG dates back more than two decades. PAG RA originated from Secured Capital founded by JP Toppino in 1997. CM grew out of Pacific Alliance Group, founded by Chris Gradel in 2002. Weijian Shan founded PAG’s PE business in 2010. In the same year, Messrs. Gradel, Shan and Toppino brought their respective successful strategies under the PAG brand, and each of the three founders continues to manage each of the three businesses.
“ $55 Billion APAC Private Equity Group PAG Launches First CNY-Denominated Buyout Fund with $432 Million (CNY 3.1 Billion) at First Close “
$55 Billion APAC Private Equity Group PAG Launches First CNY-Denominated Buyout Fund with $432 Million (CNY 3.1 Billion) at First Close
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