<article>Global private equity firm <a href="https://www.dealstreetasia.com/?s=Blackstone">Blackstone</a> announced that it has acquired a minority stake in Hong Kong-based alternative investments firm <a href="https://www.dealstreetasia.com/?s=PAG">PAG</a> via its <a href="https://www.dealstreetasia.com/?s=Strategic%20Capital Holdings Fund">Strategic Capital Holdings Fund</a> for an undisclosed amount.</article>

Global private equity firm <a href="https://www.dealstreetasia.com/?s=Blackstone">Blackstone</a> announced that it has acquired a minority stake in Hong Kong-based alternative investments firm <a href="https://www.dealstreetasia.com/?s=PAG">PAG</a> via its <a href="https://www.dealstreetasia.com/?s=Strategic%20Capital Holdings Fund">Strategic Capital Holdings Fund</a> for an undisclosed amount.
The investment marks the third passive stake in a private equity firm this month for Blackstone’s Strategic Capital Holdings Fund, which manages $3.3 billion of assets and is part of the $75-billion Blackstone Alternative Asset Management business.
Blackstone’s investment in PAG, one of Asia’s largest alternative investment firms, follows its acquisition of a minority equity interest in Kohlberg &amp; Company, a private equity firm specialising in middle marketing investing, and Rockpoint, a global real estate investment management firm based in Boston.
PAG, based in Hong Kong, has more than $20 billion in capital under management in private equity, absolute return and real estate strategies.
“We welcome this investment in our business by Blackstone’s Strategic Capital Holdings Fund, and we appreciate its endorsement of PAG as a best-in-class asset manager,” said PAG Chairman and CEO Weijian Shan. “Our focus on and commitment to creating value for the investors in PAG’s various funds will continue unchanged.”
Announcing the investment, Scott Sousa, head of Blackstone Alternative Asset Management’s Strategic Capital Group, said PAG’s experienced team of investment professionals, extensive industry relationships, differentiated sourcing networks and disciplined investment approach made it a compelling investment opportunity for Blackstone.
“As a diversified asset manager operating in an attractive region, we believe PAG is well positioned for growth,” said Soussa.
In November 2017, PAG acquired a controlling interest in Zhenai Inc, China&#8217;s largest online matchmaking and dating service provider for an undisclosed amount. Zhenai currently serves over 140 million registered members. It also hired a new quantitative investment and research team in Geneva to launch a new business applying quantitative techniques to fundamental investments.
The business, known as PAG Investment Solutions, is led by Edgar van Tuyll, formerly chief quantitative strategist at Pictet, where he and his team manage a $1 billion portfolio.
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The investment marks the third passive stake this month for Blackstone’s Strategic Capital Holdings Fund, which manages $3.3 billion of assets and is part of the $75-billion Blackstone Alternative Asset Management business.

Blackstone picks strategic minority stake in Hong Kong-based PAG

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Blackstone picks strategic minority stake in Hong Kong-based PAG

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