PAG

PAG was formed from the 2010 integration of three established investment strategies under a single brand. Its roots include the Pacific Alliance Group hedge fund founded by Chris Gradel and Horst Geicke in 2002, and Secured Capital Japan, a real estate management firm co-founded by Jon-Paul Toppino in 1997. The firm's private equity arm was formally established in 2010 when Weijian Shan joined from TPG Capital. In 2018, Blackstone Group acquired a minority stake in the firm.

The firm operates three primary business segments: Private Equity, Real Assets, and Credit & Markets. It is recognized as one of the largest private investment firms in Asia, ranking as the seventh largest private equity firm in the region by Private Equity International in 2023. While the firm filed for a $2 billion Hong Kong IPO in 2022, the listing was later delayed due to market conditions. PAG continues to expand its footprint, recently closing a $4 billion Asia-focused real estate fund in 2025 with a significant focus on the Japanese market.