Pag Capital Asia’s Asia-focused distressed-asset investment fund has raised a total of $900 million, AltAssets reports. Since November, the Hong Kong–based firm has raised more than $1.7 billion for its inaugural $2.5 billion pan-Asian private equity fund.
The fund will target investments in special situations, a role usually assumed by hedge funds or financiers supplying debt or equity-linked funding to indebted operations. Pag Capital, a buy-out vehicle launched by former TPG Capital executive Weijian Shan, oversees assets worth about $7 billion across the private equity, hedge fund, special situations and real estate sectors.
Click here for the story from AltAssets.