January 5, 2016 / 10:16 AM / 4 years ago

HK-based PAG raises $3.6 bln for 2nd Asia private equity fund

HONG KONG, Jan 5 (Reuters) - Hong Kong-based private equity firm PAG said on Tuesday it had raised $3.6 billion for its second Asian buyout fund, adding to the massive pool of cash private equity firms have raised in recent months for buyout deals in the region.

The PAG Asia II LP fund will invest in major markets in the region and compares to the $2.5 billion in size for PAG’s first fund in Asia that closed in 2012, the company said in a statement.

Other large fundraisings in the region last year include a $3 billion from Bain Capital LLC in December, RRJ Capital’s $4.5 billion fund that closed in September and a $4 billion fund from Baring Private Equity Asia in February. (Reporting by Elzio Barreto; Editing by Muralikumar Anantharaman)

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