Ex-TPG Star Shan Nets US$1.7B For China-Focused P.E. Fund

Jul 12 2011 | 12:35pm ET

A former Texas Pacific Group executive has helped his new firm raised US$1.7 billion for its next buyout fund.

Weijan Shan joined PAG Asia Capital in Hong Kong last July as managing partner, chairman and chief executive. The US$7 billion firm runs private equity, hedge fund and real-estate strategies.

Shan has focused on fundraising for the new Pan-Asia, China-focused p.e. fund since November. Jong Kong-based PAG said today that it hopes to raise a total of US$2.5 billion for PAG Asia I over the next several months. Among the new fund's investors are some of TPG's institutional investors, the Financial Times reports.

Shan left TPG—which he joined in 1998—last June with hopes of launching his own fund with TPG's backing. He was among the private equity giant's most senior and successful dealmakers in Asia.

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