One of Asia’s largest alternative asset managers, PAG, has invested close to $8 billion this year, in spite of the COVID-19 pandemic and restrictions.
Based in Hong Kong, PAG has $40 billion in assets under management across three core businesses, namely private equity, real estate, and absolute returns.
The firm expects to deploy about $2 billion in PE investments in 2020, the same as in 2019, PAG Group Chairman and CEO Weijian Shan told DealStreetAsia in a fireside chat at the Asia PE-VC Summit 2020.
“Our best deals tend to be done during the crises,” he said. “If you find the right business, the crisis is probably a time as good as any other times to make investments because the market is down, especially in the private market – if not in the public market.”
Shan leads the PE strategy at PAG. The firm has raised four vehicles, including the buyout focused PAG Asia III, which closed in 2018 at $6 billion, and the growth-focused PAG Growth I, which raised $350 million in capital commitments in the same year.