PAG Raises $6 Billion for a New Fund to Invest in Asia, FT Says

(Bloomberg) -- Hong Kong-based private equity firm PAG has raised $6 billion for a new fund, the Financial Times reported, citing several unidentified people with knowledge of the matter.

PAG’s new fund was largely raised from U.S. pension funds as well as backing from the sovereign wealth funds of Kuwait and Singapore, the newspaper said.

PAG’s Chairman and Chief Executive Officer Shan Weijian has a worldwide mandate, but focuses mainly on Asia, especially China, according to the FT.

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