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PAG to receive strategic minority investment from Blackstone Fund

Blackstone’s (NYSE:BX) Strategic Capital Holdings Fund has acquired a passive minority stake in PAG, a leading Asia-focused alternative investment firm.

Blackstone’s Strategic Capital Holdings Fund is part of Blackstone Alternative Asset Management (BAAM), and specialises in minority partnerships with leading alternative asset managers.
 
PAG, based in Hong Kong, is one of the largest independent alternative asset firms in Asia, with more than USD20 billion in capital under management in private equity, absolute return and real estate strategies.
 
Terms of the deal have not been disclosed.
 
“We welcome this investment in our business by Blackstone’s Strategic Capital Holdings Fund, and we appreciate its endorsement of PAG as a best-in-class asset manager,” says PAG Chairman and CEO Weijian Shan (pictured). “Our focus on and commitment to creating value for the investors in PAG’s various funds will continue unchanged.”
 
“As a diversified asset manager operating in an attractive region, we believe PAG is well positioned for growth,” says Scott Soussa, Head of BAAM’s Strategic Capital Group. “The firm’s experienced team of investment professionals, extensive industry relationships, differentiated sourcing networks and disciplined investment approach makes it a compelling investment opportunity for Blackstone.”

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