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Report: PAG Asia Capital nears the close of its third Asia-focused fund at US$6B

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Report: PAG Asia Capital nears the close of its third Asia-focused fund at US$6B

PAG Asia Capital is set to raise US$6 billion for the first and final close of its third pan-Asia private equity fund, DealStreetAsia reported, citing an AVCJ article.

PAG Asia Capital, which specializes in large-scale buyouts, control deals and structured minority investments, is the private equity arm of alternative investment manager PAG.

Unnamed sources told AVCJ that the investment vehicle had an initial target of US$4.5 billion.

A representative for PAG did not comment on the matter when asked by DealStreetAsia.

PAG Asia has secured a total of US$6.1 billion in capital commitments for its first two Asian-focused funds, the report noted.