PAG is a private asset manager for institutional investors. We do not provide investment advice or services for individual retail investors. We do not solicit or contact individual investors via chat, text or social messaging applications.

PAG is a leading alternative investment firm focused on APAC. We focus on private equity, real assets, and credit & markets.

Our operations are supported by a robust infrastructure and commitment to strong risk management, governance, and transparency.

PAG has deep experience in the region. Our multi-strategy platform provides investors with a diverse array of funds and products. We also create funding and operational solutions for our investment partners and portfolio companies, across the capital structure and across Asia.

A committed and experienced investment partner

PAG brings deep regional expertise, focusing exclusively on investments in and around APAC. Our teams comprise experienced, on-the-ground decision-makers with deep knowledge of their local markets.

Our scope of funds and flexible, tailored funding solutions allow us to provide unique financing opportunities in all major asset classes. We value long-lasting relationships with investors.

As a leading alternative investment firm, PAG has consistently invested capital for quality returns, maintaining a strong track record across multiple economic cycles and changing conditions.

We attract and retain the most talented and experienced professionals in every market, combining local knowledge with a commitment to upholding global standards.

Our history

PAG is a diversified alternative investment firm with three core strategies: Credit & Markets, Real Assets, and Private Equity.

The roots of PAG date back more than two decades. PAG’s Credit & Markets business evolved from Pacific Alliance Group, co-founded by Chris Gradel in 2002 as a multi-strategy hedge fund manager. PAG Real Assets grew out of Secured Capital Japan, a pioneer in real estate and distressed asset investing in the Japan market co-founded in 1997 by Jon-Paul Toppino. Weijian Shan founded PAG's Private Equity business in 2010 after a successful career leading deals with private equity firms TPG and Newbridge Capital.

In 2010, Messrs. Gradel, Shan and Toppino brought their respective successful strategies under the PAG brand, and realised their vision of creating a diversified, multi-strategy alternative investment firm. Each of the three founders continues to manage each of the three strategies. As of 30 June 2022, PAG manages US$50 billion in assets for nearly 300 institutional fund investors from around the world.

Leadership

Weijian Shan

Co-founder, Executive Director and Executive Chairman of the Board

Mr. Weijian Shan is Co-founder, Executive Director and Executive Chairman of the board of PAG. He has over 28 years of experience in investment management and founded our Group’s Private Equity business in 2010. Before joining our Group, Mr. Shan was a Managing Partner of TPG Capital, Ltd. (formerly known as Newbridge Capital Ltd.) from February 1998 to June 2010 and a Managing Director of JPMorgan Chase & Co. from 1993 to 1998.

Mr. Shan graduated with a major in English from Beijing University of International Business and Economics (formerly known as Beijing Institute of Foreign Trade) in 1979. He received his master’s degree in Business Administration from University of San Francisco in December 1981, and his master’s degree in Economics and doctorate degree in Business Administration from University of California, Berkeley in December 1984 and May 1987, respectively.

Chris Gradel

Co-founder, Executive Director and Chief Executive Officer

Mr. Chris Gradel is Co-founder, Executive Director and Chief Executive Officer of PAG. He has over 20 years of investment experience and co-founded our Group’s Credit & Markets business in 2002. Before joining our Group, Mr. Gradel was an Engagement Manager at McKinsey & Company, Inc. Hong Kong from March 1999 to June 2002, and worked at The Marmon Group from October 1994 to October 1998.

Mr. Gradel received his master’s degree in Engineering, Economics and Management from Oxford University in May 1995. He is a member of the Board of Trustees at the Standards Board for Alternative Investments, the hedge fund industry’s global standard-setting body, and a member of the Investment Committee of Oxford University Endowment Management and a Wykeham Fellow of New College, Oxford.

Jon-Paul Toppino

Co-founder, Executive Director and President

Mr. Jon-Paul Toppino is Co-founder, Executive Director and President of PAG. He has over 29 years of experience in real estate and distressed asset investment management and founded our Group’s Real Assets business which was established in 1997. Before joining our Group, Mr. Toppino held several senior positions at Secured Capital Corp (USA) and Secured Capital Japan Co., Ltd. (the predecessor of PAG Real Assets) from January 1993 to March 2011, including President and Representative Director.

Mr. Toppino received his Bachelor’s degree in Economics from Florida International University in April 1993. He is a member of the Young Presidents Organisation and a full member of the Urban Land Institute and serves on the Japan Council.

Lincoln Pan

partner and Co-Head of Private Equity

Lincoln Pan is a partner and Co-Head of Private Equity at PAG, responsible for supervising the operations and management of PAG’s Private Equity strategy. Prior to joining the firm, Mr. Pan was the Head of Greater China at Willis Towers Watson. He served in senior roles at Advantage Partners and GE Commercial Finance before that.

Mr. Pan received his bachelor’s degrees in history and English, Magna Cum Laude, from Williams College, and his Juris Doctor degree from Harvard Law School.

David Wong

partner and Co-Head of Private Equity

David Wong is a partner and Co-Head of Private Equity of PAG. He is responsible for supervising the operations and management of the Private Equity strategy. Prior to joining PAG, Mr. Wong was a vice president at TPG Capital (formerly known as Newbridge Capital). He worked in the investment banking division of Morgan Stanley before that.

Mr. Wong received bachelor’s degrees in business administration and Asian studies from the University of California, Berkeley.

Broderick Storie

partner and Co-Head of Real Assets

Broderick Storie is a partner and Co-Head of Real Assets at PAG. He is responsible for supervising the operations and management of PAG’s Real Assets strategy. Prior to joining PAG, Mr. Storie was the Chief Risk and Investment Officer for real estate investment at Pramerica Real Estate Investment. He previously worked in the real estate practice of Babcock & Brown Limited, an investment management company.

Mr. Storie received his bachelor’s degree in banking & finance and accountancy from the Queensland University of Technology.

Phi Le

partner and Co-Head of Real Assets

Phi Le is a partner and Co-Head of Real Assets at PAG. He is responsible for supervising the operations and management of PAG’s Real Assets strategy. Prior to joining PAG, Mr. Le worked at Secured Capital Japan Co., Ltd. (the predecessor of PAG Real Assets) and Secured Capital Corp (USA).

Mr. Le received his bachelor’s degree in economics with concentrations in finance & operations and information management from the Wharton School at the University of Pennsylvania.

Eddie Hui

partner and Co-Head of Private Debt

Eddie Hui is a partner and Co-Head of Private Debt at PAG. He is responsible for supervising the operations and management of PAG’s private debt strategy under PAG Credit & Markets. Prior to joining PAG, he was a managing director at Blackstone.

Mr. Hui received his bachelor’s degree in accounting and finance with first class honours and his master’s degree in international and public affairs from the University of Hong Kong. He also obtained a master’s degree in business administration from INSEAD.

Anshumann Woodhull

partner and Co-Head of Private Debt

Anshumann Woodhull is a partner and Co-Head of Private Debt at PAG. He is responsible for supervising the operations and management of PAG’s private debt strategy under PAG Credit & Markets. Prior to joining PAG, Mr. Woodhull was a managing director and distressed asset trader with Deutsche Bank’s global markets division.

Mr. Woodhull received his Bachelor of laws degree from the University of Bristol.

Angus Wai

partner at PAG and the Chief Executive Officer and Chief Investment Officer of Polymer Capital Management

Angus Wai is a partner at PAG and the Chief Executive Officer and Chief Investment Officer of Polymer Capital Management. He is responsible for supervising operations and management of Polymer, the multi-manager hedge fund platform Mr. Wai founded with PAG in 2019. Prior to Polymer, Mr. Wai was the Chief Executive Officer at Folger Hill Asset Management, and before that served as managing director and head of Asia-Pacific at Point72 Asia, an investment management company.

Mr. Wai received a Bachelor of Arts degree in Honours Chartered Accountancy Studies and a Master’s degree in Accounting from the University of Waterloo.

Derek Crane

partner, Chief Operating Officer and Chief Financial Officer

Derek Crane is a partner, Chief Operating Officer and Chief Financial Officer at PAG. Mr. Crane has over 20 years of experience in financial operations, corporate management and risk management. Prior to joining PAG, he served as the Chief Financial Officer of ICAP, a company engaged in the interdealer broking markets. Mr. Crane also served in senior roles at UBS and at Jones Wertheimer Capital before that.

Mr. Crane is a Fellow Chartered Management Accountant and was admitted as an Associate by The Chartered Institute of Management Accountants. He is also a Fellow of The Chartered Institute of Securities and Investment in the United Kingdom and a Fellow of The Hong Kong Securities and Investment Institute.

Greg Salathé

partner and group general counsel

Greg Salathé is a partner and group general counsel of PAG.  He has practiced law for 25 years in Tokyo, Singapore and New York. Prior to joining PAG, Mr. Salathé was a partner at Jones Day and previously a partner at Sidley Austin. He has worked closely with PAG for over 12 years as outside counsel on a variety of investments and transactions.

Mr. Salathé earned his Juris Doctor degree from the University of Virginia School of Law and a bachelor’s degree with honors in history from Haverford College.

Anjali Johannessen

partner and Chief Talent Officer

Anjali Johannessen is a partner and Chief Talent Officer at PAG. She is responsible for overseeing talent management and planning of our Group. Ms. Johannessen has over 20 years of experience in human capital, recruiting and talent management. Prior to joining PAG, Ms. Johannessen was a director of professional development and practice operations at McKinsey & Company in their Hong Kong and New York offices. She previously worked as an associate at Executive Access, an executive search firm, and as an analyst at Goldman Sachs.

Ms. Johannessen graduated magna cum laude with Bachelor of Science degrees in finance and international business from Georgetown University.

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