PAG Raises $1B For Pan-Asia Real Estate Fund

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PAG, run by former TPG executive Shan Weijian, has reportedly raised over US$1 billion for its pan-Asia real estate fund, following a final closing of US$3.66 billion for the firm’s second Asian buyout fund in January.

PAG Real Estate Partners L.P. held a first closing in the past few weeks, and expects to reach final closing in June.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.