CORRECTED-UPDATE 1-Investment firm PAG raises $6 bln in third Asia-focused fund [Reuters]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
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Source: Reuters
CORRECTED-UPDATE 1-Investment firm PAG raises $6 bln in third Asia-focused fund | Reuters 3 Min Read (Corrects sixth paragraph in Nov. 19 story to say PAG was led, not founded, by Weijian Shan) Nov 19 (Reuters) - Hong Kong-based investment firm PAG on Monday said it has closed its third Asia-focused buyout fund with $6 billion in committed capital, and expects to begin investing from the PAG Asia III as soon as this year. The fund, which opened in June, is the firm’s largest to date. It raised $3.6 billion with its second Asian fund in 2016. PAG is the latest to join a slew of global and regional investment firms that have raised or are raising record-sized funds for a region seeing a surge in deal-making. Hillhouse Capital, an investor in China’s biggest technology firms including Tencent Holdings Ltd and Baidu Inc , closed its latest fund at $10.6 billion in September. That exceeded the $9.3 billion of private equity firm KKR & Co Inc’s Asia-focused buyout fund closed in June 2017 t
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