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14 May 2018

PAG Announces Closing of Third Asia Loan Fund

PAG, the leading Asia-focused alternative asset manager, announces the closing of PAG Asia Loan Fund III LP, its third pan-Asia direct lending fund, at a total of US$950 million in capital commitments.

The fund closed at its hard cap after being significantly oversubscribed. The firm’s predecessor fund, PAG Asia Loan Fund II, closed in 2014 with more than US$800 million in investor commitments.

PAG Asia III will continue with the same strategy as the previous funds in the series, providing senior secured and mezzanine corporate and real estate financing solutions across the region.

There were approximately a dozen investors in the fund, including leading sovereign wealth and pension funds from North America, Australia and Asia.
“We appreciate the continuing trust our investors have placed in our private debt funds,” said Chris Gradel, PAG Founder and CIO, Absolute Returns. “Especially considering the uncertainty in the current global economic outlook, we believe this strategy offers the ability to generate strong, risk-adjusted returns.”

About PAG

PAG is a leading Asia-focused alternative investment firm with funds under management across private equity, real estate and absolute return strategies. PAG delivers value to its investors and portfolio companies by providing a world-class platform and an unparalleled network of local, experienced investment professionals in 10 offices across Asia and around the world. Founded in 2002, PAG currently manages more than US$20 billion in capital for some of the world’s largest private and institutional investors, including over US$7 billion in private debt strategies. For more information, visit

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