PAG Nets US$1.5B For Distressed Fund
Nov 19 2013 | 11:59am ET
Hong Kong alternative investments firm PAG has raised US$1.5 billion for a new distressed opportunities vehicle.
The fund, raised by the firm's real-estate business, will focus on distressed real-estate and debt investments in Asia. It has already closed 11 deals since fundraising began two years ago.
PAG's Secured Capital division had targeted just US$1 billion for the fund, which is managed from Japan.
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