PAG Raises Just Half of $9 Billion Goal for New Asia PE Fund
- PAG raises $4 billion for latest buyout fund for Asia
- Middle East, Asia investors make up about half of the new fund
PAG, Asia’s biggest manager of alternative assets, will close the fundraising for its latest buyout fund at $4 billion later this month, reaching less than half of its original target as investors balk at putting new cash into the region, people familiar with the matter said.
When the fund was launched two years ago, PAG was seeking about $9 billion. The firm told investors last year it anticipated raising $6 billion instead, after the world’s biggest pension pools became increasingly reluctant to invest in illiquid assets in general, the people said, asking not to be identified because the matter is private.
