Reuters exclusively reports Hong Kong’s PAG seeking to raise $9 bln with new buyout fund

Reuters exclusively reported that Asia-focused investment firm PAG is aiming to raise $9 billion in what would be its fourth and largest buyout fund, adding to the region’s abundant investment dry powder. The Hong Kong-based firm has kicked off fundraising, and a first close of the fund is expected by mid-2022. Roughly two-thirds of PAG’s private equity portfolio is in China, and the new fundraising underscores robust investment interest in the country despite an unprecedented regulatory crackdown on a range of sectors from technology to real estate to private tutoring.